ThomsonReuters

AUGUST 16, 2022

Starting with their tax years that begin in 2021 (the 2021 tax year) pass-through entities with items of international tax relevance must contend with a number of new forms and instructions. Schedules K-2 and K-3 for Form 8865, Partners’ Distributive Share Items—International. What K-2 and K-3 Relief Is Available for 2021?

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ThomsonReuters

FEBRUARY 24, 2023

Schedule K-1s, which are tax forms used to report a partner’s or shareholder’s income, losses, capital gain, dividends, etc., K-1s, however, are quite different and can come with some complexities for tax and accounting firms. What is Schedule K-1? from the partnership for the tax year. taxpayers each year.

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Nancy McClelland, LLC

FEBRUARY 13, 2022

Check out this article — IRS to delay some K-2 and K-3 reporting requirements for partnerships | Accounting Today. The source is #15 in the IRS FAQ on the topic: This Journal of Accountancy article walks through the particular scenario where this relief — only for tax year 2021 — applies. 1.861-9(g)(3)).

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ThomsonReuters

JUNE 14, 2021

Each year, more than 40 million Schedule K-1 (Form 1065) are sent to US taxpayers, reporting income and other financial information stemming from their participation in partnerships, S corporations, and trusts. Tiered partnership structures create additional complexity. A Complex Undertaking.

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ThomsonReuters

MARCH 1, 2024

To the IRS, S corporations (S corps) are considered “ pass-through entities ”, which means any deductions, losses, income, credits, and profits pass through directly to shareholders, who report their share of the business’s performance on their own personal tax returns. What IRS tax forms do S corps file?

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Snyder

JUNE 9, 2022

Read about what income tax filing method to choose, where to get the latest tax information, how to keep up with deadlines, and more. What is income tax? Assessment tax return and short tax return. How to file income tax returns in 5 steps. What is income tax? Contents: 1. How does income tax work?

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ThomsonReuters

JANUARY 17, 2023

Helping business owners navigate the complexities is an ideal opportunity for tax and accounting professionals to strengthen their role as a trusted advisor. Let ’ s begin by taking a closer look at the basics of what defines a nonresident alien. . Table of contents: What is a nonresident alien? What is a nonresident alien?

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