Filing for Partnerships

2020 partnership filings: What the tax basis capital change means for you

Location: Virtual
Start date:

1/27/2021 12:00 PM Eastern

End date:

1/27/2021 1:00 PM Eastern

Services: Consulting
Filing for Partnerships

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Event details

Beginning with filing their 2020 Form 1065, “U.S. Return of Partnership Income,” partnerships are required to report partners’ capital accounts using the tax basis, which means using the GAAP, Section 704(b) book, or “other” methods no longer will be permitted. The IRS’ increased focus on partnerships and the changing requirements for reporting means that K-1 producers and recipients need to prepare for the coming March 15 filing deadline. In this event, we examine the impact of these changes on the not-for-profit sector, private clients, large-partnerships, and others.

After attending this event, you should be able to:

  • Discuss IRS’ increased focus on partnerships
  • Describe the impact of changes to reporting requirements
  • Assess your current strategies as a K-1 producer or recipient and what changes might be needed to file 2020 partnership returns

This event will be a moderated panel discussion that will feature experienced professionals from Crowe with deep specialization in their specific areas of focus. Don’t miss your chance to hear what they have to say and to have your questions answered.

Continuing professional education

Prerequisites: None

Program level: Basic

Advanced preparation: None

Instructional delivery method: Webinar (live group internet)

Field of study: Tax

Continuing professional education: This session is recommended for 1.0 hour of CPE credit.

There is no registration fee for participating in this webinar; therefore, there is no cancellation fee.

Additional CPE information

Who should attend

CFOs, controllers, assistant controllers, and individual and exempt partnership investors

Speakers

  • Phil Malnar
  • Rochelle Hodes
  • Nick Hollinden
  • Rachel Spurlock
  • Sarah Allen-Anthony

Contact information

For more information, please contact Reese Henderson.

Note: All participants MUST be logged into the webinar INDIVIDUALLY to receive CPE credit. CPE credit will be granted only in the name of the individual logged into the presentation. Crowe LLP is unable to grant CPE credit for groups viewing the webinar.

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