Schedules K-2 & K-3: Determine if Required & How to Complete Web [K2K3]

Feb 14, 2022
Time: 11:00am-12:00pm

Subject:

Taxation

Credit Hours:

1.00

Price:

Member: $25.00
Non-member: $40.00

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Discussion Leader:

Edward K. Zollars, CPA    more info

Edward K. Zollars, CPA is in public practice in Phoenix, Arizona as a partner with the firm of Thomas & Zollars & Lynch, Ltd. He has been in practice for over twenty five years, specializing in tax issues for closely held businesses and individuals.

Ed has been professionally involved with both tax and technology issues, combing the two disciplines in starting the first tax podcast (Ed Zollars Tax Update, produced weekly dealing with current tax issues. He has been a member of AICPA Tax Division Committees dealing with tax and technology issues, and was the Tax Section’s representative on three occasions to the AICPA’s Top Ten Technologies project. Ed is also a member of the Phoenix Tax Workshop’s Advisory Committee, and currently serves on the Tax Legislation Liaison Committee for the Arizona Society of CPAs.Ed was selected as a Life Member by the Arizona Society of CPAs in May of 2010.

Ed is a co-author of the Arizona Income Tax Guide published by the Phoenix Tax Workshop, and has written articles published in Practical Tax Strategies and the Tax Adviser. He has been a frequent contributor to a number of professional tax discussion groups, and served as systems operator on the AICPA’s Accountants Forum in the mid 1990s.

He has spoken regularly on tax and technology topics since 1996, speaking before conferences sponsored by the AICPA and a number of state society of CPAs.

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Website registration for this course closes on February 13, 2022. To register after this date please contact the society at akcpa@ak.net or 907-562-4334.

Full Description

Schedules K-2 and K-3: How Do We Determine if They are Required & How Do We Complete Them? Webcast (K2K3)

February 14th, 2022 / 11:00 am Alaska Time

Overview:
In this hour-long session, we'll look at the new for 2022 IRS Schedules K-2 and K-3 for partnerships and S corporations. Based on the recent revisions to the IRS instructions we'll look at why most partnerships and S corporations will likely need to complete these forms. We'll also discuss why the IRS has decided to require these forms unless entities can establish no equity holder will need access to the information on the form.

Highlights:
- What purpose do the forms serve?
- How can a partnership or S corporation establish that the form is not required on their return?
- What's on each form and what are the areas most likely to need to be completed?
- Who does the special election to directly claim the foreign tax credit and not fill in Form 1116 work and who can make use of that option on their Form 1040?

Designed For: Tax, accounting, financial professionals who want up-to-date information on partnership and S Corp taxation

CPE Credits: 1, Taxation

Level of Knowledge: Update

Prerequisite: None

Acronym: K2K3

Discussion Leader: Edward K. Zollars, CPA
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