# Guidance Related to the Foreign Tax Credit; Clarification of Foreign-Derived Intangible Income; Correction
> **IRS** · Final rule; correction and correcting amendments. · Published 2022-07-27 · Effective 2022-07-27 · 87 FR 45018
## Document
- **Document number:** 2022-15867
- **Category:** tax-irs
- **Sub-agency:** IRS
- **Federal Register citation:** 87 FR 45018
- **CFR reference:** 26 CFR 1
- **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
- [Federal Register document](https://www.federalregister.gov/documents/2022/07/27/2022-15867/guidance-related-to-the-foreign-tax-credit-clarification-of-foreign-derived-intangible-income)
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