Many partnerships and S corporations are now required to complete the voluminous Schedules K-2 and K-3 to report foreign-related tax information. Updated for the 2024 tax year, this course is an essential guide for tax preparers on how to identify which entities need to complete these schedules and how to identify which parts are applicable to a given taxpayer.
DESIGNED FOR
Any tax practitioner preparing or reviewing relevant partnership and S corporation tax returns
BENEFITS
- Understand filing requirements for Schedules K-2 and K-3
- Identify what parts of Schedules K-2 and K-3 need to be completed
HIGHLIGHTS
- IRS goals in requiring these schedules
- Detailed discussion of the domestic filing exception for 2023 tax year
- Filing requirements and exceptions for every part of Schedules K-2 and K-3
- Examples based on client situations encountered in practice
PREREQUISITES
None
ADVANCE PREPARATION
None