2022 Schedule K-2/K-3 Reporting for Partnership and S Corporation Owners

For 2021, IRS added Schedules K-2 and K-3 for Partnerships and S Corporations.  These schedules are an extension of Schedule K and K-1 reporting items of international tax relevance. New domestic filing exception: According to the IRS’s recently released draft instructions for Form 1065 and 1120S Schedules K-2 and K-3, for tax years beginning in [...]