Form 5713

Form 5713

A form that a corporation or individual files with the IRS to report operations in a country boycotting Israel. For example, a company may be required to file Form 5713 if it exports to Saudi Arabia. These operations do not automatically mean that a company loses tax benefits, but the operations must be declared anyway.
References in periodicals archive ?
International boycott transactions, as long as the return is accompanied by a properly completed Form 5713, International Boycott Report, and, where required by their instructions, Schedules A, B, and C of Form 5713 are properly completed.
Taxpayers file Form 5713, International Boycott Report, with their Federal income tax returns to report operations in countries known to participate in boycotts not condoned by the United States.
If an expat takes an assignment in one of these countries, he or she will have to file a Form 5713, International Boycott Report.
Most taxpayers file Form 5713, International Boycott Report, with their Federal income tax return to report operations in countries known to participate in boycotts not condoned by the United States.
Form 5713 -- Tax Effect of the International Boycott Provisions.
Less than 3 percent of all taxpayers filing Form 5713, however, reported tax consequences.
[2] Taxpayers must file a Form 5713 if they or any of the following have operations in, or related to, a boycotting country: a controlled group in which they are a member, a foreign corporation in which they have stock, a partner, or a trust owned by the taxpayer.
(a) International Boycott Transactions: Transactions disclosed on Form 5713, International Boycott Report:
(a) International boycott transactions: Transactions disclosed on Form 5713, International Boycott Report, Schedule A, International Boycott Factor (Section 999(c)(1)); Schedule B, Specifically Attributable Taxes and Income (Section 999(c)(2)); and Schedule C, Tax Effect of the International Boycott Provisions, must be completed when required by their instructions.
The total number of taxpayers filing Form 5713 for the same decade, in comparison, has declined less than 7 percent.
Furthermore, under Internal Revenue Code section 999(a), all taxpayers who have operations in, or related to, boycotting countries are required to file Form 5713, International Boycott Report.
2003-66, except that it notes the schedules that must be filled in for purposes of transactions disclosed on Form 5713.