CPAR Taxes

CPAR - 2022/April, Seg 4 - Schedules K-2 and K-3 Relief, Penalties, RMDs and More

There has been a lot of discussion about Schedules K-2 and K-3 for a while now, with some confusion related to the preparation of the schedules and the filing options. In February 2022, the AICPA and state societies of CPAs sent a letter to the Secretary (Tax Policy) Department of Treasury and IRS Commissioner asking for a delay in the requirement for partnerships and S corporations to complete and file Schedules K-2 and K-3 reporting items relevant to international tax reporting. Barbara Weltman, president of Big Ideas for Small Business, gives us an overview of the schedules. She also addresses other areas of interest to CPAs and tax professionals, such as RMDs, subsequent beneficiaries, virtual currency and more.

Learning Objectives:

  • Understand the requirements in order to complete Schedules K-2 and K-3, as well as the filing options available;
  • Recognize the new RMD tables issues and the proposed regs made by the SECURE Act in 2019;
  • Identify the proper treatment when a beneficiary is a minor, disabled or a subsequent beneficiary; and
  • Understand how taxpayers can petition the tax court for review with respect to employment tax determination.

Prerequisites/Advanced Preparation:

Work experience in tax planning or tax compliance, or an introductory course in taxation.

Speaker / Author:

Barbara Weltman
A nationally recognized expert in taxation, Barbara Weltman has built her reputation around providing timely advice and accurate analysis on business tax matters. As a tax and business attorney, Barbara has the up-to-the-minute knowledge that business managers need to get - and to stay - ahead. She is the top-selling author of numerous books on taxation and finance, including J.K. Lasser’s Small Business Taxes. Business executives also know Barbara from her appearances on Financial Management Network, from her popular radio show and as publisher of “Idea of the Day.” By subscribing to “This Week in Business Taxation,” you can share Barbara Weltman’s insights into recent business tax developments 20 times each year.


Price (USD)

Standard: $69.90


Course Code : CPAR1562-FM

Release Date : 04/23/2022
Expire Date : 06/11/2023
Credits :
CPE 2.00
QAS 2.00

Length : 1hr 40min
Course Level : Update
Course Type : QAS Self-Study
Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Taxes

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