February 17, 2022

IRS Issues Additional Information for Schedules K-2 and K-3

IRS Issues Additional Information for Schedules K-2 and K-3

February 17, 2022

Yesterday the IRS issued additional information for Schedules K2 and K3. Refer to News Release IR-2022-38 and frequently asked questions (see FAQ 15) on the IRS website.

  • Read more about the relief here
  • AICPA has provided guidance and resources to advise clients on Schedules K-2 and K-3 here
  • Interested in learning more? Register for the upcoming KSCPA vendor webcast Preparing Schedules K-2 and K-3: Critical Tax Season Update for Reporting Foreign-Related Tax Information for Partnerships and S Corporations - 2/22 or 2/24