Hot Topic Webinar: K2/K3
Course Description
This course will present an introduction to Schedules K-2 and K-3, review the filing requirements, and discuss the different parts of the forms as well as the compliance requirements necessary for the domestic filing instructions. A client letter discussing the new requirements is presented as well.
Learning Objectives
- Identify requirements including domestic filing exceptions for the 2022 tax year.
- Understand how to read and complete Parts II and III for Foreign Tax Credit.
- Understand how to prepare Forms K-2 and K-3.
- Identify clients who qualify for exemption.
- Describe the documenting qualification for the exemption.
- Understand compliance requirements for the exemption.
- Identify the calculated amount of penalty per month per partner for failure to file.
- Identify one of the relief hurdles based on the IRS FAQs.
Presenters
Darryl Brown, PhD, EA, CPA, NTPI Fellow
As a former senior manager, with a “big six” public accounting firm, Darryl has a vast array of experience in the area of federal taxation of individuals, small businesses including partnerships and S corporations as well as large public companies (C corporations). As a former college professor, he also has an extensive background teaching, writing, and researching issues pertaining to the same areas of federal tax law including financial reporting and accounting for income taxes. Darryl is EA, CPA, an NTPI Fellow, and he frequently teaches tax courses for NAEA and an array of EA and CPA state societies.
As a former senior manager, with a “big six” public accounting firm, Darryl has a vast array of experience in the area of federal taxation of individuals, small businesses including partnerships and S corporations as well as large public companies (C corporations). As a former college professor, he also has an extensive background teaching, writing, and researching issues pertaining to the same areas of federal tax law including financial reporting and accounting for income taxes. Darryl is EA, CPA, an NTPI Fellow, and he frequently teaches tax courses for NAEA and an array of EA and CPA state societies.
Continuing Education
This course qualifies for IRS Continuing Education Hours. NAEA reports IRS CE on a monthly basis. If you have not received your CE Hours in your IRS PTIN Account by the end of the month after receiving the certificate, please contact NAEA at
education@naea.org. IRS Requirements for live webinars require at least 50 minute per hour attendance and answering 3 out of the 4 polling questions. For on-demand, you must watch the full video, answer the knowledge check, and pass the assessment with a score of 70% or above. No partial CE is offered.
Webinar Refund Policy
To request a refund, contact the NAEA education team via email at
education@naea.org. An NAEA education team member will review the request for a refund. If the refund request has been approved, the refund will be refunded on the same method of purchase. Live Webinars, also offered On-Demand will not be refunded.