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This version of the form is not currently in use and is provided for reference only. Download this version of
IRS Form 965
for the current year.
IRS Form 965 Inclusion of Deferred Foreign Income Upon Transition to Participation Exemption System
What Is IRS Form 965?
This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury on January 1, 2019. Check the official IRS-issued instructions before completing and submitting the form.
FAQ
Q: What is IRS Form 965?A: IRS Form 965 is a tax form used to report the inclusion of deferred foreign income upon transition to the participation exemption system.
Q: What is deferred foreign income?A: Deferred foreign income refers to the profits earned by a foreign corporation that have not been subject to U.S. taxation.
Q: What is the participation exemption system?A: The participation exemption system is a tax system that allows U.S. corporations to exclude certain foreign income from taxation.
Q: Who is required to file IRS Form 965?A: U.S. shareholders of certain foreign corporations are required to file IRS Form 965.
Q: What is the purpose of filing IRS Form 965?A: The purpose of filing IRS Form 965 is to calculate and report the amount of deferred foreign income that is subject to inclusion in U.S. taxable income.
Q: How do I fill out IRS Form 965?A: To fill out IRS Form 965, you will need to gather relevant information about your foreign corporations and calculate the amount of deferred foreign income to be included.
Q: Are there any penalties for not filing IRS Form 965?A: Yes, there can be penalties for not filing IRS Form 965 or for inaccurately reporting the deferred foreign income.
Form Details:
- A 2-page form available for download in PDF;
- Actual and valid for filing 2023 taxes;
- Editable, printable, and free;
- Fill out the form in our online filing application.
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Download IRS Form 965 Inclusion of Deferred Foreign Income Upon Transition to Participation Exemption System
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