IRS Form 965-A is used by individual taxpayers and entities taxed like individuals (for example, certain trusts and estates) to report the following:
- Net 965 tax liability for each tax year in which the taxpayer must report or pay section 965 amounts.
- The taxpayer's net 965 tax liability, whether or not it is being paid in installments.
- The net 965 tax liability payments being paid in installments.
- Adjustments of any outstanding net 965 tax liabilities.
- An S corporation shareholder's net 965 tax liability with respect to the S corporation.
- The beginning balance of, adjustments to, and ending balance of any deferred net 965 tax liabilities with respect to an S corporation.
Thus, this form is intended to be a cumulative report of a taxpayer’s net 965 tax liabilities through payment in full.
A taxpayer must complete Form 965-A for every tax year for which they have any net 965 tax liability outstanding and not fully paid at any point during the tax year, including deferred net 965 tax liabilities with respect to an S corporation.
To access Form 965-A in TaxSlayer ProWeb, from the Federal Section of the individual tax return (Form 1040) select:
- Miscellaneous Forms
- Form 965-A
Additional Information: