IRS Form: Foreign-Owned U.S. Corporation Instructions for Form 5472 Revised to Reflect §250 Regulations (IRC §250)

Draft instructions for Form 5472, Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business, released Nov. 1 rewording Part VII, lines 41a through 41d, to reflect the final regulations under I.R.C. §250 (T.D. 9901, 85 Fed. Reg. 43,042 (July 15, 2020), as amended by 85 Fed. Reg. 68,249 (Oct. 28, 2020); T.D. 9956, 86 Fed. Reg. 52,971 (Sept. 24, 2021)). Filers should check the “Yes” box on line 41a if they are claiming a deduction under §250 with respect to ...