Description

The presentation includes an in-depth discussion of the when the Forms 1065 and 1120S, Schedules K-2 and K-3 must be completed, as well as important developments for filing 2021 flow-through entity tax forms and other recent developments impacting both partnership and S corporation entities. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Presented by Federal Tax Workshops, Inc

Target Audience

CPAs in public practice and industry seeking an update on the latest tax developments impacting partnerships and S Corporations.

Course Objectives

After attending this course, you will be able to...

• Apply recent changes to forms and related schedules for partnership and S corporation returns
• Apply planning strategies and recent developments when preparing client returns

Subjects

The major topics covered in this course include:

• IRS enforcement against partnerships
• New K-2 and K-3: 2021 partnership and S corporation tax forms on foreign transactions
• Sale/merger of a partnership
• The new Sub S Form 7203 - shareholder basis computation
• S corporation compensation
• PPP loans and the Forms 1065 and 1120-S

Prerequisites

Basic working knowledge of partnership and S corporation taxation.