US IRS allows early parent-surrogate filing for country-by-country reporting

The US IRS on January 19 issued guidance providing a procedure for the ultimate parent entity of a US multinational group to voluntarily file a Form 8975 for early reporting periods.

The filing is required effectuate parent-surrogate filing by US parented-groups of country-by-country reports.

The guidance, Rev. Proc. 2017-23, states that, beginning on September 1, the Form 8975 may be filed for an early reporting period.

See:

• Rev. Proc. 2017-23