US IRS notes updates to country-by-country reporting instructions 

The US IRS today notified taxpayers that updated instructions for Form 8975 and Schedule A (Form 8975) on country-by-country reporting for large multinationals were published on July 1.

The IRS said that a key change includes an updated mailstop for US MNEs filing Form 8975 on paper. The instructions also update the guidance on selecting the correct “stateless” country code and tax jurisdiction code in Part 1 of Schedule A, the IRS noted.

 

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