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Schedules K-2 and K-3 filing requirements

lhcpa
Level 2

We are starting to prepare S-Corp tax returns and trying to interpret the IRS instructions for Schedules K-2 and K-3. We need guidance from Intuit about the necessity to file these schedules and the availability to e-file them. IRS says e-filing of K-2 and K-3 will not be available until Mid-June. Until then you have to attach as a pdf. 

Our clients are typical small businesses with no foreign income or foreign shareholders. According to the latest IRS instructions the S-Corp needs to "certify" that the shareholder has no foreign income. That is ridiculous and a big invasion of privacy. 

We need help from Intuit on this issue.  

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