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Live Webcast Replay

Understanding the New Forms K-2 and K-3

Total Credits: 1.6 including 1.6 Taxes - Technical

Average Rating:
ACPEN Industry Institute |  ACPEN Tax Institute |  Tax |  IRS Approved
Allison M. McLeod, LL.M., CPA
Course Levels:
1.6 Hours
Access for 30 day(s) after program date.

Please Note: Programs with a ☾ insignia begin after 5pm or air on the weekend.


Schedules K-2 and K-3 for reporting partners' income, deductions, and credits from foreign activity are now required for passthrough returns (Form 1065, 1120-S and 8858).  This requirement starts with returns with a tax year that ends in 2021. This course will discuss each part of these schedules  and explain these new reporting obligation in detail.

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to

Basic Course Information

Learning Objectives
  • Understand the purpose of Schedule K-2 and Schedule K-3
  • Review components of each form and the areas which will need to be completed.
  • Learn about these new forms that affect partnerships and S Corporations.
  • Find out when they must be filed.
  • Determine which taxpayers need to complete these forms.

Major Subjects
  • Schedules K-2 and K-3 are promulgated by the IRS in order to standardize the reporting of foreign-related tax information for pass-through entities. Even pass-through entities that have no foreign activities, investments, or partners may have a reporting requirement. This course will present an introduction to Schedules K-2 and K-3, review the filing requirements, and discuss the different parts of the schedules and what needs to be included.

Course Materials


Allison M. McLeod, LL.M., CPA's Profile

Allison M. McLeod, LL.M., CPA Related seminars and products

Allison M. (Yee) McLeod, LL.M., JD, CPA, is currently a Senior Lecturer at the University of North Texas in Denton, Texas.   She received Bachelor of Business Administration and Juris Doctor degrees from Baylor University, and a Master of Legal Letters (LL.M.) degree specializing in Taxation from the Southern Methodist University School of Law. Professor McLeod has also studied British and Art History at the University of Sussex, England. 

Prior to joining the UNT faculty in 2010, Professor McLeod held the position of Director of Tax Planning and IRS Audits for Lehigh Hanson North America, a major manufacturer of cement, aggregates and other building materials. Her practice included both federal and international tax planning. Professor McLeod also spent thirteen years specializing in Tax Planning with the JCPenney Corporation, Inc., and two years with Deloitte & Touche in Dallas.

Professor McLeod has taught at the university level graduate classes on Ethics, Tax Research, Multi-jurisdictional Taxation and Corporate Income Tax.   She also lectures in Financial Accounting and Individual Taxation on an undergraduate level.  She has taught at the UNT College of Law as adjunct faculty and works part-time at the law firm of Grable Martin Fulton, PLLC.   Since 2011, Professor McLeod has been honored to present live and on-line ethics CPE classes to CPAs across the nation.  She also serves as an expert witness in accounting malpractice cases and maintains a small private practice serving individuals and small businesses.  Professor McLeod has also taught at the University of North Texas College of Law as adjunct faculty.  She is currently serving on the Professional Ethics Committee of the Texas Society of CPAs.

Professor McLeod is licensed to practice law by the State Bar of Texas since 1992 and has been a Certified Public Accountant since 1993.  


Tue, Apr 11, 2023 - 05:00pm to 06:35pm MDT
Sat, Apr 29, 2023 - 02:00pm to 03:35pm MDT
Fri, May 05, 2023 - 08:00am to 09:35am MDT
Mon, May 22, 2023 - 10:00am to 11:35am MDT
Thu, Jun 08, 2023 - 05:00pm to 06:35pm MDT
Mon, Jun 19, 2023 - 02:00pm to 03:35pm MDT
Mon, Jun 26, 2023 - 08:00am to 09:35am MDT

Additional Info

Basic Course Information

Prerequisites None
Advanced Preparation None
Designed For This course is suitable for Corporate tax and finance executives, directors, managers and staff, CPAs,  Enrolled Agents, accountants, attorneys and business/financial advisors who work with and advise individuals or businesses that use or invest in cryptocurrency.  All in-house and public practice professionals involved with tax compliance and who want up-to-date information on partnership and S corporation taxation.  
Original Recording Date 06/2022
Course Developer Allison M. McLeod
Date Added to Catalog 05/17/2022

Additional Information

Complaint Resolution Policy

Please contact Anne Taylor for any complaints., (972-377-8199). 

Official Registry Statement

Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:

Instructional Delivery Method

Group Internet Based

Course Registration Requirements

Online Registration

Refund/Cancellation Policy

Please contact the ACPEN help desk 1-877-602-9877 or if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer. 



Overall:      4.4

Total Reviews: 7


Joseph R

"Very knowledgeable instructor!"

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