Contact Us Follow Us :      | Find Us |

Subscribe to Our Blog

Client Satisfaction Survey Results



Follow Us

IRS Provides Transition Relief for New Schedules K-2 and K-3
Posted by Tracy Dalpe on Mar 18, 2022 1:40:01 PM

On February 16, the IRS issued additional relief for certain pass-through entities required to file new Schedules K-2 and K-3, along with a set of “Frequently Asked Questions.” The relief is outlined in News Release IR-2022-38 and Schedules K-2 and K-3 Frequently Asked Questions (Forms 1065, 1120S, and 8865). This additional relief was in response to the widespread commentary among tax return preparers and taxpayers in the current filing season. Under the new relief, certain taxpayers will not need to file the new Schedules K-2 and K-3 relating to partnerships and S corporations. 

Read More

Topics: IRS, pass-through entities, Private Equity & Venture Capital, PE/VC, Schedule K-3, Schedule K-2

New Schedules Seek to Streamline International Tax Reporting for Partnerships
Posted by Tracy Dalpe on Nov 22, 2021 5:49:39 PM

Private equity (PE) and venture capital (VC) firms with interests in partnerships with international operations know: navigating international tax requirements and reporting the appropriate share of partner income on a Schedule K-1 was never easy. Tax reform under the law commonly known as the Tax Cuts and Jobs Act (TCJA) didn’t make reporting any easier with its numerous changes to international taxes.

Read More

Topics: TCJA, Private Equity & Venture Capital, PE/VC, Schedule K-1, Schedule K-3, Schedule K-2

Popular Posts