New International Reporting Requirements: Schedules K-2 and K-3
Partnerships and S-corps face new tax filings starting in 2021. Schedules K-2 and K-3 replace parts of Schedule K and K1. They are complex and deal with international tax items that could include the calculation of foreign tax credits or certain other calculations.
Andre Benayoun is a tax partner specializing in consulting around international taxation for inbound and outbound multinational corporations, S-corporations, partnerships, and individuals and families.