IRS releases several draft forms for 2018

Tax Hot Topics newsletterThe IRS has released a number of draft forms for 2018 tax years over the last few weeks, including several that may be used by U.S. based multinational corporations. Notable forms and their respective release dates are listed below:
All forms are watermarked with their release date and contain a warning that they in draft form and not intended for filing.

The draft Form 1120 provides some insight into how the Section 965(a) inclusion may be reported on a U.S. corporate income tax return for the 2018 tax year. Schedule C, Dividends, Inclusions and Special Deductions, on the draft form contains a new line 15 (titled “Section 965(a) inclusion”) where it appears the Section 965(a) inclusion and corresponding section 965(c) deduction will be reported.

David Sites
Partner, Washington National Tax Office
T +1 202 861 4104

David Zaiken
Managing Director, Washington National Tax Office
T +1 202 521 1543

Cory Perry
Senior Manager, Washington National Tax Office
T+1 202 521 1509

Mike Del Medico
Manager, Washington National Tax Office
T +1 202 521 1522

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