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November 15, 2021
2021-2081

Plan to attend this week's Tax webcasts

Tuesday, November 16. K-2 and K-3 for partnerships and S corporations: Operating under the new schedules for tax year 2021, 12:00 p.m. ET. In September, the IRS released final versions of Form 1065, Schedules K-2 and K-3 and the associated instructions. Understanding these changes and the impact they will have on tax reporting will be essential. Please join our panel of senior tax professionals, where they will share insights and leading practices on the following topics: (i) Changes you can expect to your reporting; (ii) Modifications you need to consider in your processes, communications, and agreements; (iii) Timing of K-2 and K-3 deliverables; and (iv) Penalties and potential penalty relief under IRS Notice 2021-39. Register.

Wednesday, November 17. 2021 Forms 1099 and 1042-S: New Forms W-8 and what filers need to know this reporting season, 1:00 p.m. ET. Reporting season for Forms 945/1099 and 1042/1042-S is once again upon us. The IRS has issued new Forms W-8, and pending legislation may bring significant changes in the near future. Successful filings require putting dollars, codes and other information into the proper IRS format; that process changes each year and is not always straightforward. Join Ernst & Young LLP professionals for answers to many questions on the new forms and a practical discussion of how to manage filing information returns for 2021. Register.

Thursday, November 18. Biden tax reform and the Build Back Better Act, 12:00 p.m. ET. As Congress continues to refine the Build Back Better Act (H.R. 5376) reconciliation bill, companies must determine which provisions remain in play and how to respond to the proposed changes. Please join us as we examine the latest version of the bill and what it could mean for your business. Topics to be discussed include: (i) current state of the bill and its prospects for passage; (ii) corporate minimum tax; (iii) International provisions (global intangible low-taxed income/subpart F, foreign tax credits, foreign-derived intangible income, base erosion and anti-abuse tax); (iv) interest expense limitations; and (v) what companies should be doing now. Register.

Friday, November 19. Tax in the time of COVID-19: Update on legislative, economic, regulatory and IRS developments, 12:00 p.m. ET. COVID-19 and the resulting economic crisis have made reacting to tax developments more complicated than ever. Join us for the next webcast in our series as we discuss how businesses can navigate the tax policy environment and continue to effectively operate their tax function in this time of crisis and change. Panelists will provide updates on: (i) the US economy and tax policy; (ii) breaking developments; and (iii) what’s happening at the IRS. Register.

 

The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

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