Please join us for a focused update on two hot topics in partnership tax reporting for 2020. Hot on the heels of new tax basis capital account reporting requirements comes relief for certain partnerships failing to comply with the new reporting obligations.

This is s a 2-hour live video conference (2 CPE credits) led by Cory J. Bilodeau, Esq., LL.M., Partner, McLaughlinQuinn LLC.
Zoom Live Video Conference: (2/23) from 1pm-3:15pm ET

In Notice 2021-13, the IRS discusses the new tax basis capital account reporting rules and provides penalty relief for reporting errors to partnerships making good faith efforts to comply. This seminar will focus on book/tax capital account differences, the new tax basis capital reporting requirements and capital account maintenance rules for all partnerships.

Particular attention will be paid to recent updates to Form 1065 and instructions for capital account reporting. Other hot topics in partnership taxation to be addressed include tax reporting for the forgiveness of PPP loans on Form 1065 and Schedule K-1.