For the latest information about developments related to Form 1118 and its instructions, such as legislation enacted after they were published, go to www.irs.gov/form1118.
Schedule B, Part II, has been modified to include new line 1b for foreign taxes paid or accrued by the corporation during prior tax years that were suspended due to the rules of section 909 and for which the related income is taken into account by the corporation during the current tax year. See Schedule B and related instructions for additional information.
Schedule G includes a new Part II, which requires the corporation to indicate whether it paid or accrued any taxes that were disqualified under section 901(m) or suspended under section 909.
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