IRS Releases Q&A About Reporting Related to Section 965 on 2017 Tax Returns

On March, 13, 2018, the Internal Revenue Service (IRS) provided additional information to help taxpayers meet their filing and payment requirements for the Section 965 in a question and answer format entitled, “Questions and Answers about Reporting to Section 965 on 2017 Tax Returns”.  Please click this link for the official IRS guidance:  

Read the IRS Guidance

 

BDO Insights

The FAQ provides welcomed guidance on various procedural aspects related to Section 965. Hopefully, the additional guidance that should be forthcoming in advance of April 2, 2018, clearly addresses various open issues and questions related to Section 965.  BDO can assist our clients with calculating their income tax liability under Section 965 and help with understanding the various procedural aspects related to Section 965, including the rules discussed in the FAQ.  

 
 

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