Does anyone know if there is a modified, more condensed way to input the new K-3 information from a K-1 on a 1040 so that our staff aren’t having to input every single country’s information. Can we put it all to something like Other and then attach the K-3s or a statement saying available upon request? Just seems like overkill to arrive at the same answer, but potentially I’m missing something. Senior here and the manager is out of office so figured I’d ask the fishes!

like
Posting as :
works at
You are currently posting as works at

The IRS wants it on a country by country basis, and we’ve been hearing reports of taxpayers receiving notices for failing to report on a country by country basis.

However, being that it is September 19th, the practical answer is to just list other countries and aggregate everything. The K-3 doesn’t provide expenses on a country by country basis, and regardless of how you input it, the allowable foreign tax credit should be the same (since the limitation is determined on an aggregate basis).

It’s like the old saying, it’s easier to ask for forgiveness than permission. If the client gets a notice, then you can respond with the country by country detail.

like

I wouldn’t do the above without clearing it with your engagement team. It sounds like a good way to have to do a lot of work at the end if you shortcut and SM/Partner aren’t on board.

like

Related Posts

Is it weekend yet? 🥱

Post Photo
like

Tips on how to wow the final round interviewer? I’m meeting with the VP of marketing and want to make sure I secure the job!

Accepted into b school and looking to pursue entrepreneurship in tech. Would it be worth it to pick up some add'l coding skills or should I focus my time elsewhere before I start?

like
like

ICU stays for the uninsured are already astronomical. Is your hospital doing anything to help uninsured COVID patients?

like

Anyone in US on H1B needed stamping, went to India and came back? What was the timeline, process and experience?

like

Dream job.... plan b or in the industry. Describe it please!

At the beach this morning...

Post Photo
like

Referrals available for a Scrum Master position and a Business Development Manager position (company website: aleph-labs.com).

I'll share details.

like

Anyone heard of Bamboo Agency? Thoughts?

like

What is Mandiant consulting manager work life balance like compared to Deloitte/big 4?

like

What’s dating advice you wish you could’ve given yourself when you were 23?

like

Dear Fishbowl PPCers I need your help!

A client is insisting we used Adobe bod manager for their campaigns, and neither me nor my team have experience with it.

We're also not on a timeline where we can really get up to speed on it ahead of a couple deadlines.

I've also argued for budget for external consulting hours and that's been disapproved.

I'm on my own. Or am I?

Hoping some kind soul with experience managing Google Ads through Adobe can help me out.

Continued...

Who here has been to the Maldives and how much did it cost? Thinking of going here for a honeymoon trip! Also, any tips on traveling here is appreciated!

like

Christmas briefs are in. Time flies

likefunny

Deloitte 1st yr SC salary and bonus? (Home grown)

like

Please share your thoughts on Sap Fioneer , does it operate similar to SAP's process and KPI / wiki's. How is the job security being a recent joint venture with sap, does it have projects or potential growth for the next decade @SAP FioneerSAP

like

Hi There,

Actually i am in process of interviewing for SDE 1 at Amazon,
Cleared OA, Technical Round 1, Technical Round 2 as well & only thing left is Bar Raiser Round.

It is actually pending for more than 2 months, when asked the recruiter about the reason of not being able to schedule the round? They said due to bandwidth issue!
Recently they did scheduled the BR round but panelist didn't join,
and now it is again went for scheduling!

What should i do so i get the round scheduled for me?

like

Sr. Digital Media Specialist here. Been with my agency for exactly 2 years now. I recently received a major elevation in responsibility, but the company “cannot afford to promote me at this time.” Basically I’m expected to operate as a manager without the title or compensation.
I’m burnt out and undervalued and am looking outward. My experience is in CPG eRetail search & display media, direct experience with Instacart, KPM, Criteo, Quotient, and CitrusAd. Any suggestions (fully remote)?

like

Additional Posts in Tax Bowl

Current in M&A tax at B4 and thinking of making the switch to A&M. While comp seems much higher than I currently get, and have a minimum guarantee in my offer, am having concerns of downside given upcoming recession risks. Any insights from those currently at A&M? @alvarez&marsal

like

Owner of a Small start up in my area has reached out and asked if there are any tax benefits available for using sustainable products in his clothing line. Like repurposing materials, etc. I don’t know if any or see any. Any one have thoughts?

like

How do you feel most supported by peers during busy season? Obviously we are all going through it, but I try to lift the homies up when/if I can so wanted to hear from the majority :-)

like

Asking for help from Toronto! How is work life balance in MNP US Corporate tax group? Is it better than big4. I know big4 suck and BDO Mississauga is good. I am at senior level. Please help!

like

Pros and cons of being in a tax accounting and provision service line?

like

Deloitte investment management tax - yay nay run away 😂

like

I’ve got a client email asking for an accelerated return timeline up on one screen and a complicated return adjustment up on the other. Lmao you wanna come help me??

like

I’ll sound lazy it’s so nice in industry not having to log your hours

like

What should the jump from tax senior to tax manager be in terms of % in salary?

like

Just had my raise/bonus discussion with the partner for my move from S3 -> M1 at PwC. The partner was unsure if PwC still gave a first year manager bonus. I know it used to be 20% bonus at the end of the first year. Does anyone know if that perk is still around or if COVID robbed me of that?PwC

like

I heard the father of the young woman shot in the Tallahassee yoga studio is s Deloitte tax director. I don’t know if he is on Fishbowl, but I thought I would post condolences here anyway. (More)

likeuplifting

Recently I left a Big 4 which was paying for my MT. So far, 3/12 courses down. Now that I'm paying, is it worth it to cont my MT? Or instead a tech degree (i.e., BS in CS or IT)? Or neither?...

Anyone interested in switching to CBIZ dm for referral!

like

For all the LA, OK, and TX tax people out there....only ONE more day!!!

like

International Tax vs Federal Corporate in terms of exit opportunities?

like

Has anyone left big 4 tax and moved to PE or Hedgefund Tax? If so, How was that experience?

like

Are any US CPA firms willing to sponsor a candidate for H1b lottery?

Don’t know about yall but I’m glad that I found this Fishbowl app and know there are tons of people like me being struggling with work and personal life. I feel like I’m not alone!

like

Which software is best for prepping individual taxes? Just doing a schedule C for a friend.

like

I want to take a leave of absence for about 2 months. Did anyone do this process before? How does it work?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal