The U.S. IRS has announced an update to its questions and answers (Q&A) on reporting related to the section 965 transition tax on 2017 tax returns. The latest Q&A, dated 4 June 2018, includes three additional questions regarding certain penalty and filing relief. --- WASHINGTON — The Internal Revenue Service (IRS) today announced that it will waive certain late-payment penalties relating to the section 965 transition tax, and provided additional information for individuals subject to the section 965 transition tax regarding the due date for relevant elections. The IRS explained the relief in three new FAQs, posted today on the...