IRC 965(h) Liability Schedule CFOL Screen (Command Code BMFOLM)

Command Code BMFOL with Definer M was created to assist in identifying the IRC 965(h) deferral payments on the account.

The amount listed under the title, Tax Liabilities and Installments reflects the latest TC 971, AC 114 (Total Net Tax Liability under Section 965) reported by the taxpayer.

The amount listed under the title, Deferred Amount, reflects the latest TC 766 CRN 263 remaining deferred amount.

The remainder of the screen display reflects the yearly percentage of the 8 installments based on the latest TC 971, AC 114 and the remaining installment amounts due based on the latest TC 766 CRN 263, along with the yearly due dates of the installments.

This display screen will assist in determining the amount of the IRC 965 deferral amount paid as well as the remaining deferral amount still owed. It will allow you to determine if an installment amount was paid, overpaid with the overpayment being credited to the next installment or if the installment was underpaid.

The BMFOLM display screen will recalculate with the input of a new TC 971, AC 114 and/or a new TC 766/767 CRN 263 amount.