This document contains official instructions for Form 5870 , Michigan Federal Adjustments Report (Far) for Partnerships and Other Flow-Through Entities - a form released and collected by the Michigan Department of Treasury.
Q: What is Form 5870?
A: Form 5870 is the Michigan Federal Adjustments Report (FAR) for Partnerships and Other Flow-Through Entities.
Q: Who needs to file Form 5870?
A: Partnerships and other flow-through entities in Michigan need to file Form 5870.
Q: What is the purpose of Form 5870?
A: The purpose of Form 5870 is to report any federal adjustments made by the Internal Revenue Service (IRS) that affect a flow-through entity’s Michigan income tax.
Q: When is Form 5870 due?
A: Form 5870 is due on or before the 15th day of the 4th month following the close of the entity's tax year.
Q: Are there any penalties for late or incorrect filing?
A: Yes, there are penalties for late or incorrect filing. It is important to file Form 5870 accurately and on time to avoid penalties.
Instruction Details:
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