A schedule of the required installments is below. How do I make the subsequent installment payment(s)? (added June 27, 2019)Ī1: Section 965(h) allows taxpayers to pay the section 965(h) net tax liability portion of their overall income tax liability over eight annual installments.
Payment Obligations Q1: I made a section 965(h) election on a prior tax return, electing to pay the section 965(h) net tax liability portion of a prior income tax liability in eight annual installments. The document entitled Questions and Answers about Tax Year 2018 Reporting and Payments Arising under Section 965 provides answers to questions related to tax year 2018 return filing and payment obligations arising under section 965, including reporting and payment obligations resulting from amounts included in income for both the 20 tax years. See Questions and Answers about Tax Year 2018 Reporting and Payments Arising under Section 965. See Questions and Answers about Reporting Related to Section 965 on 2017 Tax Returns.
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The document entitled Questions and Answers about Reporting Related to Section 965 on 2017 Tax Returns provides answers to questions regarding tax year 2017 return filing and payment obligations arising under section 965 of the Internal Revenue Code (the "Code"). Additional questions and answers may be added in the future as necessary.
It also includes answers to questions related to filing Transfer and Consent Agreements arising under section 965(h) and (i). It includes general information about payment obligations arising under section 965. This document provides answers to questions arising under section 965 not specifically related to the filing of a tax year 2017 or 2018 return.