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TREAS/IRS RIN: 1545-BR90 Publication ID: 2026 
Title: ●Foreign Tax Credit and Expense Allocation Guidance Related to the One Big Beautiful Bill Act 
Abstract:

Regulations under sections 250, 904, and 960 to implement the amendments made by sections 70311, 70312, and 70322 of the One, Big, Beautiful, Bill Act regarding the allocation and apportionment of expenses and other foreign tax credit issues.

 
Agency: Department of the Treasury(TREAS)  Priority: Other Significant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
EO 14192 Designation: Regulatory 
CFR Citation: Not Yet Determined     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: Pub. L. 119-21    26 U.S.C. 904(d)(7)    26 U.S.C. 960(f)    26 U.S.C. 250(c)    26 U.S.C. 7805(a)    ...   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  08/00/2026 
Additional Information: REG-117273-25 (NPRM) Drafter attorney: John Lee (202) 317-5444, Alex Kaplan (202) 317-4227, and Le Chen (202) 317-6936 Reviewer attorney: Young-Eun Choi (415) 547-3716 and Tianlin (Laura) Shi (202) 317-6987 Treasury attorneys: Jared Hermann (202) 622-4743 and Isaac Wood (202) 622-1011 and Tianlin (Laura) Shi (202) 317-6987 CC: INTL
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
John J. Lee
Attorney
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue, NW , Room 4579 ,
Washington, DC 20224
Phone:202 317-5444
Fax:855 584-5147
Email: john.j.lee@irscounsel.treas.gov

J. Alexander S. Kaplan
Attorney
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue, NW , Room 4579 ,
Washington, DC 20224
Phone:202 317-4227
Fax:855 584-5147
Email: jalexander.s.kaplan@irscounsel.treas.gov