IRS Form 965 Schedule C U.S. Shareholder's Aggregate Foreign Earnings and Profits Deficit

What Is IRS Form 965 Schedule C?

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. The document is a supplement to IRS Form 965, Inclusion of Deferred Foreign Income Upon Transition to Participation Exemption System. As of today, no separate filing guidelines for the form are provided by the IRS.

FAQ

Q: What is IRS Form 965 Schedule C?
A: IRS Form 965 Schedule C is a tax form used by U.S. shareholders to report their aggregate foreign earnings and profits deficit.

Q: Who needs to file IRS Form 965 Schedule C?
A: U.S. shareholders who have an aggregate foreign earnings and profits deficit must file IRS Form 965 Schedule C.

Q: What is an aggregate foreign earnings and profits deficit?
A: An aggregate foreign earnings and profits deficit refers to the total amount of foreign earnings and profits that have a deficit balance.

Q: What information is required on IRS Form 965 Schedule C?
A: IRS Form 965 Schedule C requires information about the U.S. shareholder's foreign earnings and profits, including the calculations of deficits and current year earnings.

Q: When is the deadline to file IRS Form 965 Schedule C?
A: The deadline to file IRS Form 965 Schedule C is typically the same as the deadline for filing the U.S. shareholder's federal income tax return.