Should a partnership pay for tax amendment?

Question

I submitted my tax return early this year, but was given a K-1 by a relative that said I apparently had a small portion of property. This is the first time this has happened and this partnership/relative never notified me previously that I would be receiving a K-1. They said that the partnership would pay back whatever taxes I owed back. I would like to know if they should also pay for the cost of the tax amendment because of the fact that they have time beforehand to tell me that I'd be receiving a K-1?

Answer 1

I think it is great that they have offered to pay any taxes. You could ask that they pay to have your returns amended but they don't have to legally.

Answer 2

As long as the Partnership filed it's returns "timely" (prior to the due date INCLUDING any extensions) then they have issued you your K-1 within their legally and allotted time frame and have no other obligation to you in any way. Sorry but thats the breaks.