Checkpoint Learning

Checkpoint Learning

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Schedules K-2 and K-3: Domestic Taxpayers and Form 1116  

CATEGORY: Taxation
COURSE ID: W753T, VERSION 1.00
(446)
  Webinar
2 CPE Credits
Level: Basic
The new Schedules K-2 and K-3 for Forms 1065 and 1120-S have caught many tax practitioners off guard. Original IRS guidance indicated that domestic pass-through entities wouldn’t be impacted by the new schedules, but updated IRS instructions make it clear that even pass-through entities with no foreign owners, assets, or income may still be required to provide the schedules to their owners (and IRS). While IRS provided transitional relief for 2021 tax years, practitioners need to be familiar with the new reporting requirements impacting domestic pass-through entities for 2022 and beyond. Additionally, this webinar will include examples detailing how the Schedule K-3 directly impacts a domestic owner’s foreign tax credit calculation on Form 1116, Foreign Tax Credit. 

Who should attend: Business and individual income tax preparers

Instructor: Laurie A. Stillwell, CPA
Instructor assignments are fluid and subject to change.

Registration for this event has ended. Please either [search] for an open course or event or contact a salesperson at 844-245-5970 for more information or other options.
 
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