The U.S. IRS has announced the release of draft instructions for the Schedules K-2 and K-3 released to enhance reporting of international tax matters by pass-through entities, as well as related penalty relief for the 2021 tax year. --- Draft Instructions for the Schedules K-2 and K-3 released to enhance reporting of international tax matters by pass-through entities IR-2021-140, June 30, 2021 WASHINGTON — The Treasury and the IRS released today early draft instructions for the Schedules K-2 and K-3 for Forms 1065, 1120-S, and 8865 for tax year 2021 (filing season 2022). The early release drafts of the instructions...