Partnership Tax Updates 2024

Author: Allison McLeod

Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2026 to receive credits

The well-informed tax practitioner will want to attend this two hour program in order to stay current on recent updates on partnership tax! Content includes recent court decisions on partnership tax issues as well as current updates to the new Forms K-2 and K-3.

Publication Date: January 2024

Designed For
This course is suitable for Corporate tax and finance executives, directors, managers and staff, CPAs, CAs Enrolled Agents, accountants, attorneys and business/financial advisors who work with and advise businesses that have tax implications. All in-house and public practice tax professionals will benefit from this timely and insightful seminar.

Topics Covered

• Corporate Transparency Act (CTA)
• Partnership Case Updates
• Statue-of-Limitation Issues
• Economic Substance
• Other Substantive Issues
• Sec. 754 Elections
• K-2/K-3 Overview
• 2023 Changes for K-2/K-3
• Domestic Filing Exception (DFE)
• Observations
• IRS Frequently Asked Questions

Learning Objectives

• Identify the new requirements under the Corporate Transparency Act
• Identify new cases that affect partnerships and S Corporations
• Identify the purpose of Schedule K-2 and Schedule K-3
• Identify when Schedules K-2 and K-3 must be filled
• Identify which taxpayers need to complete these forms

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None