As a result of congressional mandate to go after money laundering and foreign activities congress ordered IRS to come up with some solutions... IRS came up with new form Schedule K-2 and K-3 that applies to 1120S and 1065. Jan 18th IRS released new instructions that state if the S-Corp or Partnership has no foreign activity then they do not have to do the new schedules UNLESS the individual owners of the S-Corps and Partnerships have foreign activity... How are we suppose to know that?! Bob Jennings offers the solution to this issue.
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Also our TaxSpeaker Q&A where every other week (weekly during tax season) Bob Jennings answers more than a dozen of user submitted questions in video format. [ Ссылка ]
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