A pass-through entity is an LLC, S corporation, partnership, or other entity that does not pay income tax at the entity level. Rather, the entity’s owners pay taxes on the entity’s income. Pass-through entities are often but not always required to file information returns. Information returns are tax returns that detail an entity’s revenues, gain, deductions, and credits, and what each owner’s share of gain, loss, or other items is, but which are not accompanied by payment for taxes. Examples of informational returns are IRS form 1065 for partnerships, form 1120S for S corporations, and form 3520 for offshore trusts.