美国注册188bet亚洲真人体育下载敦促国税局对第965条采取行动 tax reporting and application of 2017 overpayments

的 美国注册188bet亚洲真人体育下载 (188bet亚洲真人体育下载) wrote the Internal Revenue Service (IRS) twice in April about guidance regarding the Internal Revenue Code (IRC) section 965 repatriation tax under the 税 Cuts and Jobs Act (Pub. L. No. 115-97).

在其 四月四日信, the 188bet亚洲真人体育下载 informed the IRS that in order for some taxpayers to file their 2017 tax returns they needed additional clarification related to reporting requirements under IRC section 965.  的 188bet亚洲真人体育下载 emphasized that the Frequently Asked Questions (常见问题解答s) posted on the IRS’s website on March 17 left some questions unanswered and that guidance was needed “immediately.”

的 letter listed four specific fact patterns to illustrate issues that needed to be clarified and made related recommendations:

Scenario #1 – Underpayment of Initial Installment of the Section 965 税 Liability

Recommendation: 的 IRS should treat the additional section 965 tax liability in a manner similar to a “deficiency” under section 965(h)(4).  和, taxpayers should have the ability to apply any overpayment of tax related to their regular 2017 tax liability to any underpayment of tax related to their section 965 installment liability.

Scenario #2 – Overpayment of Initial Installment of the Section 965 税 Liability

Recommendation: 的 IRS should provide taxpayers the option of having the section 965 installment payment overpayment refunded to them or make an election to apply it to one or more of the following current or future liabilities:

• second installment payment of the section 965 tax liability due in April 2019;
• regular tax underpayment for 2017 reflected on their filed tax return; or
• 2018年预计纳税额.

Scenario #3 – Unintentional Non-payment of Initial Installment of the Section 965 税 Liability

Recommendation: If the only section 965 inclusion on a taxpayer’s return results from an interest in a partnership that provided the taxpayer with a Schedule K-1 after April 17, 2018, the IRS should permit the taxpayer to make their initial section 965 tax liability payment with their timely filed extended tax return.

Scenario # 4 – Clarification of Required Calculations and Document Retention

Recommendation: 的 IRS should encourage taxpayers to prepare a pro forma copy of their tax return showing the calculation of the net tax liability for the taxable year with all section 965 related amounts and retain the documentation until one year after the expiration of the extension of the limitation on the assessment period referenced in section 965(k).

4月19日, the 188bet亚洲真人体育下载 wrote the IRS about two 常见问题解答s the IRS posted on April 13, 哪些是对3月13日指导意见的补充.  的 常见问题解答s addressed the procedures for paying the section 965(h) liability and other amounts due on April 17, 2018年(上面的场景2).

在 四月二十九日信， Annette Nellen, CPA, CGMA, Esq., 美国注册188bet亚洲真人体育下载税务执行委员会主席, wrote the procedures would have a “detrimental impact on all affected taxpayers, 包括个人, 小企业和大公司.”  的 188bet亚洲真人体育下载 urged the IRS to amend the 常见问题解答s.

Nellen声明, “We believe that allowing taxpayers a choice in how their tax payments are applied is consistent with the 8-year installment payment period enacted as part of code section 965(h) and necessary for the fair and sound administration of the tax system.”