Share with your friends

United States: Updated FAQs on country-by-country reporting

United States: Updated FAQs on CbC reporting

The IRS today released an updated version of “frequently asked questions” (FAQs) concerning country-by-country (CbC) reporting.


Related content

Among the new FAQs are items addressing guidance for “specified national security contractors” pursuant to Notice 2018-31 (see FAQs D-4 and D-5). Read the updated FAQs on CbC reporting. Read more about Notice 2018-31 in TaxNewsFlash

An IRS transmittal message includes information about Notice 2018-31; information about the jurisdictional status table updates; and information for taxpayers that file paper versions of Form 8975 and Schedule A (Form 8975) and that receive letters from the IRS notifying them of errors with their filing (these taxpayers are urged to submit an amended return by 20 April 2018 so that their CbC reports are exchanged in June 2018).

© 2020 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.KPMG International Cooperative (“KPMG International”) is a Swiss entity.

Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Want to do business with KPMG?


loading image Request for proposal