Tag Archive: "Global"
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Transforming the Sunshine State: Exploring the Impact of Senate Bill 264 on Foreign Ownership in Florida’s Real Estate
Florida law limits certain foreign buyers from acquiring real property in the state.
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IRS Provides Temporary Relief for Schedules K-2 and K-3 (Kinda)
The IRS created Schedules K-2 and K-3 to accommodate the international provisions enacted with the Tax Cuts and Jobs Act of 2017 and to provide consistency in the reporting to partners and shareholders. Schedule K-2 will be an extension of Schedule K and will be used to report items of international tax relevance from the […]
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IRS Makes Important Clarifications for Schedules K-2 and K-3 Reporting
Last month, the Treasury and the IRS provided clarifying language for Schedules K-2, Distributive Share Items – International, and K-3, Share of Income, Deductions, Credits, etc. – International. If you recall from our blog post from October, Schedules K-2 and K-3 are new for the 2021 tax year and are intended to replace, supplement, and streamline the […]
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New Schedules K-2 and K-3 Coming for the 2021 Tax Year
In an effort to replace, supplement and clarify the current foreign reporting structure and to increase taxpayer compliance with the international tax provisions of the Internal Revenue Code, the IRS has introduced Schedules K-2, Distributive Share Items – International, and K-3, Share of Income, Deductions, Credits, etc. – International, for partnerships and S corporations for […]