IRS Issues Final Versions of 2007 Form 1120-F and New Schedule M-3 (1120-F)
The Internal Revenue Service has issued final versions of forms and instructions for the revised Form 1120-F, U.S. Income Tax Return of a Foreign Corporation, for tax year 2007 and related schedules, including Schedule M-3, new for 2007. Taxpayers with $10 million or more in total reportable assets filing Form 1120-F for tax years ending on or after Dec. 31, 2007 will be required to file Schedule M-3.
In addition, Schedules M-1 and M-2, previously included in Form 1120-F, are now separate forms. Schedule M-1, Reconciliation of Income (Loss) per Books with Income per Return is used by corporations with assets under $10 million. Schedule M-2, Analysis of Unappropriated Retained Earnings per Books, is used by all asset size corporations.
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2007 Form 1120-F, U.S. Income Tax Return of a Foreign Corporation
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2007 Schedule H (Form 1120-F), Deductions Allocated to Effectively Connected Income Under Regulations Section 1.861-8
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2007 Schedule I (Form 1120-F), Interest Expense Allocation Under Regulations Section 1.882-5
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2007 Schedule P (Form 1120-F), List of Foreign Partner Interests in Partnerships
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2007 Schedules M-1 and M-2 (Form 1120-F), Reconciliation of Income (Loss) and Analysis of Unappropriated Retained Earnings per Books
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2007 Schedule M-3 (Form 1120-F), Net Income (Loss) Reconciliation for Foreign Corporations With Reportable Assets of $10 Million or More
Page Last Reviewed or Updated: 2013-01-10
