Disclosure Requirements for Schedules K-2 and K-3

 – February 4, 2022
Disclosure Requirements for Schedules K-2 and K-3

The AICPA has provided the following information and resources regarding the IRS’s recent announcement about K-2 and K-3 disclosure requirements:

The AICPA’s Foreign Partnership Reporting Task Force has been tackling K-2/K-3 issues and questions since the draft forms were released in 2020 and is continuing to work on behalf of members and taxpayers to try to streamline the reporting process.  However, members need to be aware of the reporting requirements for their pass-through entity clients (partnerships and S corporations).

Articles/resources: