NCACPA ADVOCATES FOR BUSINESSES AND PRACTITIONERS ON SCHEDULES K-2, K-3 

NCACPA joined the AICPA and other state CPA societies to urge the IRS to delay implementation of requirements for Schedules K-2 and K-3 until 2023. The coalition further argued for the suspension of penalty assessments against certain domestic Partnerships or S Corporations for failing to file or failing to timely provide Schedules K-2 and K-3 for the 2021 tax year.  

February 2022