Understanding the New Forms K-2 and K-3

Tuesday, December 17, 2024
Webcast or Webinar, Online
1:00 PM - 3:00 PM (opens at 12:30PM) EST
2Credits
Technical Business

Registration is Open

Members
$89.00 Regular Price
Non-Members
$119.00 Regular Price

CPE PowerPass Users

Click the "Apply PowerPass" button to use your PowerPass for the applicable course below.
$40.00 Members / $56.00 Non-Members
Course Type: Webcast
Course Code: 24/CX43779
Level: Basic
Vendor: CPA Crossings, LLC
Field of Study: Taxes

Overview:

Schedules K-2 and K-3 are promulgated by the IRS in order to standardize the reporting of foreign-related tax information for pass-through entities. Even pass-through entities that have no foreign activities, investments, or partners may have a reporting requirement. Schedules K-2 and K-3 for reporting partners' income, deductions, and credits from foreign activity are now required for passthrough returns (Form 1065, 1120-S and 8858). This requirement starts with returns with a tax year that ends in 2021. This course discusses each part of these schedules and explain these new reporting obligations in detail. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Objectives:

After attending this presentation, you will be able to...

  • Recognize the purpose of Schedule K-2 and Schedule K-3
  • Identify components of each form and the areas which will need to be completed
  • Distinguish these new forms that affect partnerships and S Corporations
  • Recall when they must be filed
  • Determine which taxpayers need to complete these forms

Major Topics:

The major topics covered in this class include:

  • Introduction to Schedules K-2 and K-3
  • Review the filing requirements
  • Discuss the different parts of the schedules and what needs to be included

Major Topics:

The major topics covered in this class include:

  • Introduction to Schedules K-2 and K-3
  • Review the filing requirements
  • Discuss the different parts of the schedules and what needs to be included

Designed For:

This course is suitable for Corporate tax and finance executives, directors, managers and staff, CPAs, Enrolled Agents, accountants, attorneys and business/financial advisors who work with and advise individuals or businesses.

Prerequisites:

None