The IRS provided transition relief Wednesday under which eligible passthrough entities will not have to file new Schedules K-2 and K-3 for tax year 2021. The relief is outlined in News Release IR-2022 ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Lea Uradu, J.D., is a Maryland state ...

The Internal Revenue Service (IRS) introduced Schedules K-2 and K-3 beginning with tax year 2021. Schedule K-2 (Partners’ Distributive Share Items−International) and Schedule K-3 (Partner’s Share of ...

Many people perceive K-2 and K-3 reporting matters as mainly a global tax issue. However, nearly every pass-through entity business is affected — including domestic organizations with no foreign ...