Final regulations and removal of temporary regulations.
Category
tax-irs
Sub-agency
IRS
Publication date
2012-06-22
Effective date
2012-06-22
Treasury docket
TD 9595
Abstract
This document contains final regulations with respect to a provision of the Internal Revenue Code (Code) relating to the recapture of overall domestic losses that was enacted as part of the American Jobs Creation Act of 2004 (AJCA). These regulations provide guidance regarding these changes, as well as updated guidance with respect to overall foreign losses and separate limitation losses, and affect individuals and corporations claiming foreign tax credits.