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Tax news from around the web: July 12 – 16, 2021

Written on Jul 13, 2021

Congress introduces tax preparer regulation bill
A pair of lawmakers introduced bipartisan legislation to regulate tax preparers in the latest effort to ferret out unqualified preparers.

IRS releases new draft instructions for Sch. K-2 and K-3
The redesigned forms and instructions give useful guidance to partnerships, S corporations and U.S persons who are required to file Form 8865 with respect to controlled foreign partnerships on how to provide international tax information.

Tech Corner – With iOS 15, can you finally ditch your wallet?
Apple’s iOS 15 is packed with enhancements to Apple’s Wallet app. With support for driver’s licenses and keys for everything from your home and hotel room to your car, you might even be able to leave your real wallet at home—permanently.