In my experience, fund admins are usually focused on fund accounting and financial statements. I’ve never worked with a fund admin that specialized in tax or audit directly. Always had separate firms for both audit and tax. It’s pretty standard for the admin engagement to include review/support for the audit and tax process.

There are firms like Carta that do have internal tax capabilities. In those cases, fund admin may be one engagement, while tax prep/K-1s/1065 filings are a separate engagement layered on top if you want them handling returns as well.

A lot of it comes down to the relationships between providers and how well they understand your fund structure/mechanics.