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The event titled 'K2/K3- New Reporting for S-Corporations and Partnerships' is hosted by ComplianceIQ and will take place online. This informative webinar aims to clarify the complexities surrounding the K2/K3 reporting requirements for partnerships and S-corporations, which have been mandatory since the 2021 tax returns. Participants will learn about the
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nature of K2/K3, the exemptions available, potential penalties for non-compliance, and the practicality of issuing these schedules versus applying for exemptions. The session will emphasize that, despite prior exemptions in 2021, the requirements have tightened starting in 2022, and even entities with no foreign activity must now comply with these reporting obligations.
A significant aspect of the K2/K3 forms is their role in foreign income reporting. Schedule K2 is included within the entity tax return, while Schedule K3 is distributed to partners or shareholders as part of their K1. The addition of these schedules can increase tax returns and K1s by nearly 40 pages, which adds to the complexity for tax preparers. The penalties for failing to issue these forms correctly can be severe, with fines potentially amounting to thousands of dollars for the entity’s return and $290 for each incorrect K1. This session is designed for anyone involved in the preparation of S-corporation and partnership tax returns, providing crucial insights to help ensure compliance and avoid costly mistakes. The webinar will be led by Jason Dinesen, an experienced tax expert and educator recognized for his ability to break down complex tax topics. With a wealth of experience in coaching over 200,000 professionals on various accounting and tax-related subjects, including corporate taxation and tax updates, Jason is well-equipped to guide attendees through the intricacies of K2/K3. His engaging presentation style and extensive knowledge make this webinar a valuable opportunity for tax professionals seeking clarity and compliance in their reporting responsibilities.
A significant aspect of the K2/K3 forms is their role in foreign income reporting. Schedule K2 is included within the entity tax return, while Schedule K3 is distributed to partners or shareholders as part of their K1. The addition of these schedules can increase tax returns and K1s by nearly 40 pages, which adds to the complexity for tax preparers. The penalties for failing to issue these forms correctly can be severe, with fines potentially amounting to thousands of dollars for the entity’s return and $290 for each incorrect K1. This session is designed for anyone involved in the preparation of S-corporation and partnership tax returns, providing crucial insights to help ensure compliance and avoid costly mistakes. The webinar will be led by Jason Dinesen, an experienced tax expert and educator recognized for his ability to break down complex tax topics. With a wealth of experience in coaching over 200,000 professionals on various accounting and tax-related subjects, including corporate taxation and tax updates, Jason is well-equipped to guide attendees through the intricacies of K2/K3. His engaging presentation style and extensive knowledge make this webinar a valuable opportunity for tax professionals seeking clarity and compliance in their reporting responsibilities.
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Timings09:00 AM-06:00 PM (expected)Not Verified | Entry FeesCheck Official Website |
Estimated Turnoutupto 100 Delegates Based on previous editions | Official LinksWebsiteContacts
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EditionsAug 2025 Interested+1 more edition Frequency Biennial | Report Error Claim this event |
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