Partnership Tax Compliance and Navigating IRS Examinations: New Reporting Requirements, Best Practices
Reporting International Transactions, New Schedules K-2 and K-3, New LB&I Initiatives, Tax Planning Considerations
Recording of a 90-minute premium CLE/CPE video webinar with Q&A
This CLE/CPE webinar will guide tax professionals in navigating partnership tax compliance issues and IRS examinations. The panel will discuss new reporting requirements for international transactions, new required Schedules K-2 and K-3 for reporting partners' income, deductions, and credits from foreign activity, and tax planning considerations for pass-through entities in light of recent LB&I campaign initiatives.
Outline
- Recent IRS guidance for reporting international transactions
- Notice 2021-39; transition relief
- Schedule K-2 requirements and challenges
- Schedule K-3 requirements and challenges
- Best practices and planning considerations for tax professionals
Benefits
The panel will review these and other key issues:
- What is the current focus of IRS examination for pass-through entities?
- Who must file Schedules K-2 and K-3?
- What documentation is required for specified international transactions?
- Complexities in reporting funds and private equity investments
- Correctly reporting CFC income and GILTI inclusions
- Best practices for tax professionals to ensure compliance
Faculty

Alan M. Blecher, JD
Managing Director
CBIZ Marks Paneth
Mr. Blecher has considerable experience serving high-income and high-net-worth individuals and their closely held... | Read More
Mr. Blecher has considerable experience serving high-income and high-net-worth individuals and their closely held businesses. He focuses especially on partnerships, limited liability companies and S corporations.
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Ajay Gupta
Of Counsel
Moore Tax Law Group
Mr. Gupta is a tax litigation and criminal defense attorney with extensive private practice, government, and adjunct... | Read More
Mr. Gupta is a tax litigation and criminal defense attorney with extensive private practice, government, and adjunct teaching experience. At large and small law firms in California, he managed complex business litigation at trial and appeal stages. As a Special Assistant U.S. Attorney in the Northern District of Georgia, Mr. Gupta prosecuted violent and white-collar crimes. As an Attorney-Adviser at the U.S. Tax Court in Washington, D.C., he supported judicial review and resolution of deficiency redetermination, collection due process, and whistleblower actions. As Adjunct Professor of Law at DePaul, Chicago-Kent, and U. of Houston law schools, Mr. Gupta teaches civil and criminal tax litigation courses. Many of his publications have been cited in court opinions, journals, and treatises.
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