Complimentary

February 14, 2022

Webinar

1 CPE Credit

Schedules K-2 and K-3: How Do We Determine if They are Required & How Do We Complete Them? USE COUPON CODE: co&id2022 for member price

  • Instructor

    Edward
    Zollars

In this hour long session, we’ll look at the new for 2022 IRS Schedules K-2 and K-3 for partnerships and S corporations.  Based on the recent revisions to the IRS instructions we’ll look at why most partnerships and S corporations will likely need to complete these forms.  We’ll also discuss why the IRS has decided to require these forms unless entities can establish no equity holder will need access to the information on the form.

If you need this reported to the IRS for CE credit, email CPE@idcpa.org

Learning Objectives

We’ll look at the new for 2022 IRS Schedules K-2 and K-3 for partnerships and S corporations.

Major Topics

  • What purpose do the forms serve?
  • How can a partnership or S corporation establish that the form is not required on their return?
  • What’s on each form and what are the areas most likely to need to be completed?
  • Who does the special election to directly claim the foreign tax credit and not fill in Form 1116 work and who can make use of that option on their Form 1040.

CPE Credits Available

1 CPE Credit
1
Taxes

Things to Know About This Course

Course Level

  • Update

Prerequisites

None

Advanced Preparation

None

Intended Audience

Tax, accounting, financial professionals who want up-to-date information on partnership and S Corp taxation

Provider

Idaho Society of CPAs

This event has ended.