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Walking Through the K-2, K-3 Issues of Forms 1065, and 1120-S
- Course Description
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CPE: IRS 2 Federal Tax Law Topics/ CTEC 2 Federal Tax Law/ NASBA 2 Taxes
Starting with tax year 2021, all partnerships, S Corporations and filers of Form 8865, will be required to include the new Schedules K-2 and K-3 with their returns if they have items of “international tax relevance”.
This course will cover the requirements for filing the schedules, who is required to file the schedules, how they supplement the existing Schedule K-1, and the impact on partners and shareholders.
We will walk through the two schedules key areas to be completed and cover instructions for partners and shareholders.
- Learning Objectives
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At the end of this course, the participants will:
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understand the purpose of Schedule K-2 ”Partners’ Distributive Share Items-International”; and Schedule K-3, “Partners share of Income, Deductions, Credits, etc.-International”,
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know the definition of items of “international relevance”,
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be able to distinguish between the two schedules and know when to include then with the tax returns, and
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determine when the schedules are required even for a domestic partnership or S-corp with no foreign activities.
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FAQ
To receive the member price, first log into your member account. Your member discount will then be automatically applied. We can also take your registration by phone.
Your registration confirmation will be emailed to you when your payment is processed. During our busy season, this can take up to 2-3 business days after we receive your registration.
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Yes. If you have a PTIN on file with us, we will submit your hours. To insure we have your correct info, please provide your PTIN when you register for a course. Please notify us if you have recently submitted a name change request to the IRS.
Your certificate will be emailed to you within 10 business days of the completion of the course.
Administration:
Refunds
- Once your registration confirmation is emailed, due to the proprietary materials and content of orders are NOT ELIGIBLE for refund, cancellation, or transfer to another NSTP course.
- materials and presentations are intended to stimulate thought and discussion and to provide attendees useful ideas and guidance in the areas of federal taxation and administration. These materials as well as the comments of the instructors do not constitute and should not be treated as tax advice regarding the use of any tax procedure, tax planning technique, device or suggestion, or any of the tax consequences associated with them.
- Although the NSTP has made every effort to ensure the accuracy of the materials and the seminar presentation, neither the author, the presenter nor the National Society of Tax Professionals assumes any responsibility for any individual’s reliance on the written or oral information presented during the presentation. Each attendee should verify independently all statements made in the materials, and during the seminar presentation, before applying them to a particular fact pattern and should determine independently the tax and other consequences of using any device, technique, or suggestion before recommending the same to a client or implementing the same on behalf of a client, or on the attendee’s own behalf.
- materials & presentations are fully protected under copyright law. Any attempt to copy for resale, distribution, or use other than personal use for tax preparation will be fully prosecuted of the law.
- require a test for CPE. 3 attempts are allowed.
- You have 1 (one) year from date of purchase to complete the course by taking the test.
