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Guidance Related to the Foreign Tax Credit; Clarification of Foreign-Derived Intangible Income; Correction

tax-irs · IRS · Rule · Published 2022-07-27 · Effective 2022-07-27 · 87 FR 45018

Document

Document number
2022-15867
Federal Register citation
87 FR 45018
CFR reference
26 CFR 1
Type
Rule
Action
Final rule; correction and correcting amendments.
Category
tax-irs
Sub-agency
IRS
Publication date
2022-07-27
Effective date
2022-07-27
Treasury docket
TD 9959

Abstract

This document contains corrections to Treasury Decision 9959, which was published in the Federal Register on Tuesday, January 4, 2022. Treasury Decision 9959 contained final regulations relating to the foreign tax credit, including the disallowance of a credit or deduction for foreign income taxes with respect to dividends eligible for a dividends-received deduction, the allocation and apportionment of interest expense, foreign income tax expense, and certain deductions of life insurance companies; the definition of a foreign income tax and a tax in lieu of an income tax; the definition of foreign branch category income; and the time at which foreign taxes accrue and can be claimed as a credit.

Source

Authoritative
Federal Register document
Machine
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