Yes, you can still file the return by unchecking the box, but there may have to be an amendment filed when the K-3 is available. The IRS announced on February 15, 2022, that most K2/K3 reporting for 2021 can be delayed until the 2022 tax return filing, but they have not reported how taxpayers should proceed.
Per the IRS:
The IRS intends to provide certain additional transition relief for this year from the Schedule K-2 and K-3 reporting for certain domestic partnerships and S corporations with no foreign activities, foreign partners, or shareholders, and without knowledge of partner or shareholder need for information on items of international relevance. For 2021, these qualifying domestic partnerships and S corporations will not have to file the new schedules. We are taking this step in response to feedback we received from the tax community and our stakeholders. The IRS will provide full details of this relief soon.
@clnewha1
@fred1986
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
