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Course Description

The IRS recently released new requirements for enhanced reporting of international tax matters by pass-through entities.  Many international tax rules were altered and expanded by The Tax Cuts and Jobs Act. That act requires that partnerships provide additional information to certain partners with regard to international tax attributes such as GILTI, BEAT, and FDII. This course discusses when the Forms K-2 and K-3 are required to be filed as well as general instructions on how to complete the forms.

This is an intermediate level course.  Participants should possess a general understanding of international tax matters such as foreign tax credit, passive foreign investment corporations, GILTI and Subpart F inclusions. 

Learning Objectives

Upon completion of this course “The New K-2 and K-3 Schedules”, participants will be able to:

  • Understand the purpose of Schedule K-2 and K-3
  • Identify when Schedules K-2 and K-3 are required to be filed
  • Complete Schedule K-2 and K-3
  • Assist taxpayers who have received Schedule K-3
  • Know the penalties associated with failure to file the forms
  • Apply for penalty relief for 2022 filings

Course Guidelines

  • The self-study format allows you to access the material online 24/7 and study at your own pace
  • All Self-Study courses are to be completed, and the final exam submitted, within 1 year from the date of purchase as shown on your invoice. No extensions will be allowed.
  • To obtain CE credit, the participant must obtain a passing score of at least 70%.  Test takers will not be provided feedback on incorrect answers
  • Complete your final exam at any time and get graded instantly. You can retake the exam up to three times at no additional charge.
  • Upon passing the exam, you will be able to print your own certificate of completion.

Disclaimer

This course material deals with complex matters and may not apply to particular facts and circumstances.  As well, the material contained reflects laws and practices which are subject to change.  For these reasons, the course material should not be relied upon as a substitute for specialized professional advice