IRS practice unit: Foreign tax credit (business) general principles
Discusses business foreign tax credit general principles and addresses the foreign tax credit as changed by TCJA
Foreign tax credit (business) general principles
The IRS Large Business and International (LB&I) division publicly released a “practice unit”—part of a series of IRS examiner “job aides” and training materials intended to describe for IRS agents leading practices about tax concepts in general and specific types of transactions.
The title of the “concept unit” (as referred to by the IRS) is: FTC (business) general principles
The practice unit discusses business foreign tax credit general principles and addresses the foreign tax credit as changed by the 2017 tax law (Pub. L. No. 115-97)—the “Tax Cuts and Jobs Act” (TCJA).
Read the practice unit on the IRS practice unit webpage (posting date of September 1, 2021).
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