Compass Tax Educators

Schedules K-2 and K-3 are new to Forms 1065, 1120-S, and 8865. Learn the basics of preparing the schedules for these forms, issues to watch for when a partner/shareholder receives these schedules, and the possible penalties related to these forms.

Learning Objectives

• Understand the new reporting requirements for Schedules K-2 and K-3 (1065, 1120-S, 8865) for both the entity and the recipient 

• Explain how to prepare Schedules K-2 and K-3 

• Identify key issues for the recipient and handling improperly prepared forms 

• Understand the penalties for not completing these schedules and 2021 transitional guidance under Notice 2021-39 

Education Information

IRS Program Number: NMVBP-T-00205-22-S

Length: 100 minutes plus optional question-and-answer session (no CE)

Prerequisite: None

Advanced Preparation: None

Program Level: Intermediate

Delivery Method: Self-Study

Field of Study: IRS Federal Tax

Credit hours: 2 IRS CE

Instructor: Kevin Todd, EA, CFP Click here to learn more about the instructor.

All continuing education credit is provided through Gregory & Associates, Inc. which is doing business as Compass Tax Educators. Click here for more information regarding our refund and education policies.