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IRS releases Form 5471 and draft instructions for 2018

IRS releases Form 5471 and draft instructions for 2018

The final version of Form 5471 for 2018 has been posted on the IRS website. Also, the IRS has provided a draft version of instructions for Form 5471 for 2018.


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The draft instructions reflect a “watermark” date of December 12, 2018, and include cautionary language that these instructions are not to be relied upon for filing purposes and are subject to change and to OMB approval before being officially released. 

The draft instructions note, under the “What’s New” section, that because of measures added to the Code by the new U.S. tax law (Pub. L. No. 115-97), Form 5471 has been amended to reflect new reporting requirements for certain taxpayers in tax years beginning after 2017. 

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