Page 807 - Large Business IRS Training Guides
P. 807
FAQ
16 Relief (2017)
• Applies
to individual taxpayers with a net tax liability
under
section 965 of less than $1 million for 2017.
• If a taxpayer described above made a timely section
no acceleration event even if first
965(h) election,
installment
was not paid in full as long as the amount
is satisfied by
the unextended due date of the 2018
return.
• Although the IRS
will not assess an addition to tax for
failure to timely pay the first
installment in this case,
will be liable for interest on such amount
the taxpayer
from
the due date of the installment.
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