IRS practice units: Foreign tax credit categorization of income and taxes, carryback and carryover, sourcing of income
Three “practice units” related to foreign tax credits
The IRS Large Business and International (LB&I) division released the following updated “practice units”—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:
- FTC Categorization of Income and Taxes (updated January 13, 2025)
- FTC Carryback and Carryover (updated December 3, 2024)
- FTC Sourcing of Income (updated January 17, 2025)
The practice units were all posted to the IRS practice unit webpage on January 28, 2025.