This course presents the latest tax developments for filing partnership Schedules K-2 and K-3. IRS compliance instructions for Schedules K-2 and K-3 have changed substantially for the 2022 tax year including introducing two new exceptions to filing Schedules K-2 and K-3. Unfortunately, these new exceptions aren’t quite as tax practitioner friendly as we had hoped. And there is no transition relief from filing which we were able to leverage for tax year 2021. We’ll review and analyze these new exceptions and provide alternatives such as preparing and filing basic Schedules K-2 and K-3 and related entries for domestic partnerships or LLCs with little or no foreign activity.
Schedule K-2 and K-3 FAQs. Tax Practitioner Planning. Form 1116 Exemption Exception.
CPAs and other tax professionals.
Learn the latest IRS 2022 compliance instructions for Schedules K-2 & K-3. Review practical analysis related to the timing and other challenges of using and relying on the new K-2 & K-3 exceptions. Understand additional tax practitioner compliance exposure and added client correspondence burdens related to implementing processes for the new K-2 & K-3 exceptions. Develop effective proforma entries for preparing and filing Schedules K-2 and K-3 for domestic partnerships with little or no foreign activity to leverage your tax software and save time.
This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.
Jane Ryder, Western CPE
Jane Ryder, EA, CPA is the owner of Brass Tax Ryder Professional Group, Inc., a full service tax and accounting firm. Brass Tax (not affiliated with Brass Tax Presentations) has been providing tax and accounting services since 1980.
Jane received a BS in Business Administration (Accounting) from SDSU and is currently licensed with the California State Board of Accountancy and with the Internal Revenue Service as an Enrolled Agent.
Brass Tax is a business centric practice, preparing and consulting on the preparation of Corporations, S-corporations, LLC’s, Partnerships, and Trusts. She also specializes in IRS and state agencies collection problems, payment plans, audit appeals, offers in compromise, and other compliance related issues.
Non-Member Price $56.00
Member Price $49.00