1545-BP70 202304 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, Clarification of Foreign-Derived Intangible Income

These regulations provide guidance related to the foreign tax credit, including guidance with respect to expense allocation, legal liability for foreign tax, transition rules relating to the impact on loss accounts of net operating loss carrybacks, definition of a foreign income tax, and when foreign taxes accrue and may be claimed as credit. The regulations also provide guidance clarifying rules relating to foreign-derived intangible income.

]]> Economically Significant Previously Published in The Unified Agenda Final Rule Stage Yes No 26 CFR 1.245A(d) 26 CFR 1.250(b) 26 CFR 367(b) 26 CFR 1.861 26 CFR 1.901 26 CFR 1.903 26 CFR 1.904 26 CFR 1.904(f) 26 CFR 1.905 26 CFR 1.960 ... 26 U.S.C. 7805 26 U.S.C. 245A(g) No NPRM 11/12/2020 85 FR 72078 NPRM Comment Period End 02/10/2021 NPRM: Notice of Hearing 03/08/2021 86 FR 13250 Final Rule (TD 9956) 09/24/2021 86 FR 52971 Final Rule Effective 09/24/2021 Final Rule (TD 9959) 01/04/2022 87 FR 270 Final Rule Effective 03/07/2022 Final Rule; Correction 07/27/2022 87 FR 45021 Final Rule; Correction and Correcting Amendment 07/27/2022 87 FR 45018 Final Action 12/00/2023 REG-111590-20; REG-101657-20 (Final) Drafter attorney: Teisha Ruggiero (646) 259-8116 Reviewer attorney: Tianlin (Laura) Shi (202) 317-6987 Treasury attorney: Isaac Wood (202) 622-1011 CC:INTL No None No No No Teisha Ruggiero M. Attorney 1545 Internal Revenue Service IRS 646 259-8116 teisha.m.ruggiero@irscounsel.treas.gov 1111 Constitution Avenue NW, Washington DC 20224