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The IRS has released a set of Questions and Answers (Q&As) that provide guidance on Section 965 reporting and payment requirements for 2018 tax returns, including obligations resulting from amounts included in income for the 2017 tax year.

The most recent Q&As provide updates and clarifications to the procedures both for making the second 2017 Section 965(h) instalment payment due in 2019 and also for making toll charge payments for the tax year 2018 (either in eight instalments or in a lump sum). Taxpayers should carefully review the Q&As when calculating their 2018 and 2019 estimated tax payments. 


For further information, please contact one of our US tax specialists based in the UK (Tom PattenTom CarpenterJoe Superty or Justin Mazer) or your PwC usual adviser.