1545-BP70 202004 Unified Agenda of Federal Regulatory and Deregulatory Actions 1545 Internal Revenue Service IRS 1500 Department of the Treasury TREAS Guidance Related to the Foreign Tax Credit, Including Expense Allocation and Tax Accrual Rules

The proposed regulations will provide guidance related to the foreign tax credit, including guidance with respect to expense allocation, legal liability for foreign tax, and when foreign taxes accrue and may be claimed as credit.

]]> Substantive, Nonsignificant First Time Published in The Unified Agenda Proposed Rule Stage No No Other 26 CFR 905(a) 26 CFR 861(b) 26 CFR 901(a) 26 U.S.C. 7805 26 U.S.C. 864(e)(7) No NPRM 12/00/2020 REG-101657-20 (NPRM) Drafter attorney: Tianlin (Laura) Shi (202) 317-6987 Reviewer attorney: Barbara Felker (202) 317-4925 Treasury attorney: Jason Yen (202) 622-1776 CC:INTL No None No No No Tianlin Shi Attorney 1545 Internal Revenue Service IRS 202 317-6987 tianlin.shi@irscounsel.treas.gov 1111 Constitution Avenue NW., Washington DC 20224