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Shareholders Instructions for 2016 Schedule 5K1 also file a federal Schedule K1 for each shareholder with Form 5S. However, you may submit copies of the federal Schedules K1 instead of preparing Schedules

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Also file a federal is a tax form that individuals and businesses must submit to the Internal Revenue Service (IRS) in order to report their income and pay taxes to the federal government.

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Information such as income, deductions, credits, and tax payments must be reported on a federal tax return.

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