A partnership reports the income it earns to the Internal Revenue Service, but the partnership itself does not pay any taxes.

Name: A partnership reports the income it earns to the Internal Revenue Service, but the partnership itself does not pay any taxes.
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Partnerships are pass-through entities, which means that the income earned by the partnership is reported on the partners' individual tax returns and the partnership itself does not pay any taxes.

A Partnership Reports the Income It Earns to the Internal