The program to prepare your club taxes in bivio has now been released. There are 6 steps to it. They all need to be completed correctly for you to generate correct tax forms.
Instructions
You can find instructions for how to prepare correct taxes here:
If you have any questions, email them to us at support@bivio.com. If they are questions about differences between bivio and your 1099, be sure to download a copy of the complete 1099 from your broker's website and send it as an attachment to your email.
Filing for an Extension
The IRS continues to make changes to the partnership tax return instructions. To make it easier for you to amend your return if they change something after you file, we are recommending that, prior to March 15, all clubs apply for an automatic 6 month extension for filing their club taxes.
The process to amend a return (if it becomes needed) is much simpler if it is done before the due date or extended due date of the return, especially if your club has not opted out of the CPAR audit requirements.
This doesn't mean you need to wait to file your club taxes. It just gives you more flexibility if you need to amend them after you do.
Send in IRS Form 7004 to Request the Automatic 6 month Extension. The instructions below describe how to do that and provide you with a sample filled in form that you can reference.