The United States (US) Internal Revenue Service (IRS) has released for comment new draft Schedules K-2 and K-3 for the 2021 tax year IRS Form 1065, U.S. Return of Partnership Income. The new IRS schedules and accompanying instructions are designed to help partnerships report certain US international tax information to their partners in a standardized format. This information should assist partners in computing and reporting their corresponding US income tax liability, including under the new US international tax regimes enacted as part of the Tax Cuts and Jobs Act of 2017.The new draft 2021 tax year IRS Schedules and instructions include:Schedule K-2 (Form...