Draft Instructions for the Schedules K-2 and K-3 released to enhance reporting of international tax

Draft Instructions for the Schedules K-2 and K-3 released to enhance reporting of international tax matters by pass-through entities https://www.irs.gov/newsroom/draft-in accountinginstruction.info WASHINGTON — The Treasury and the IRS released today early draft instructions for the Schedules K-2 and K-3 for Forms 1065, 1120-S, and 8865 for tax year 2021 (filing season 2022). The early release drafts of the instructions provide a preview of the instructions before final versions are released. The new Schedules K-2 and K-3 were released on June 3 and 4, 2021.