Starting with the 2021 tax year, the IRS has added Schedules K-2 and K-3 to Forms 1065, 1120-S, and 8865. This course will cover the basics of preparing the new schedules for these forms, issues to watch for when a partner or 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-O
Length: 100 minutes plus optional question-and-answer session (no CE)
Prerequisite: None
Advanced Preparation: None
Program Level: Intermediate
Delivery Method: Online Webinar/Group Internet Based
Field of Study: NASBA Taxes; IRS Federal Tax Law Topics/Federal Tax Related Matters
Credit Hours: 2 CE/CPE
Instructor: Kevin Todd, EA, CPA 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 to learn more about our education policies.
