Instructions for IRS Form 1118 Schedule L Foreign Tax Redeterminations

IRS Form 1118 Schedule L Foreign Tax Redeterminations

This document contains official instructions for IRS Form 1118 Schedule L, Foreign Tax Redeterminations - a tax form released and collected by the Internal Revenue Service (IRS), a subdivision of the U.S. Department of the Treasury. An up-to-date fillable IRS Form 1118 Schedule L is available for download through this link.

FAQ

Q: What is IRS Form 1118 Schedule L?
A: IRS Form 1118 Schedule L is a form used to record foreign tax redeterminations.

Q: What are foreign tax redeterminations?
A: Foreign tax redeterminations refer to adjustments made to the amount of foreign tax paid or accrued in a prior year.

Q: Why would I need to use Form 1118 Schedule L?
A: You may need to use Form 1118 Schedule L if you need to report changes to the amount of foreign tax paid or accrued in a prior year.

Q: Is Form 1118 Schedule L required for all taxpayers?
A: No, Form 1118 Schedule L is only required for taxpayers who have foreign tax redeterminations to report.

Q: Can I file Form 1118 Schedule L electronically?
A: Yes, you can file Form 1118 Schedule L electronically using the e-file system provided by the IRS.