Due to new reporting requirements, a supplemental schedule reconciling any differences between Total and Arkansas amounts is now required. An AR Reconciliation Schedule is currently under development and will be available in a future release. In the meantime, to file your returns, please prepare and attach a supplemental reconciliation schedule detailing these differences. This schedule should be submitted along with your paper return.
Updated! Arkansas released new reporting requirements for Pass-Through Entities (PETs), mandating a supplemental schedule to reconcile the differences between Federal total and Arkansas-specific amounts on the AR1100PET Schedule K.
This new requirement revealed inconsistencies in how these amounts were reported on the AR1100PET Schedules K (Total and Arkansas columns) and K-1 (Distributive Share Item a – Allocated & Apportioned, and Distributive Share Item b – AR residents).
To address these issues and improve accuracy, consistency, and user experience, we've released an update for AR-Scorp.
Please review your AR Schedules K and K-1 calculations and overrides for AR-Par and AR-Scorp.
PET filers, verify your current tax returns for accuracy and make any necessary state adjustments before submitting.
Additionally, review and amend previously filed PET returns as needed.
