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TREAS/IRS RIN: 1545-BP70 Publication ID: Spring 2020 
Title: ●Guidance Related to the Foreign Tax Credit, Including Expense Allocation and Tax Accrual Rules  
Abstract:

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.

 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
EO 13771 Designation: Other 
CFR Citation: 26 CFR 905(a)    26 CFR 861(b)    26 CFR 901(a)     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: 26 U.S.C. 7805    26 U.S.C. 864(e)(7)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  12/00/2020 
Additional Information: 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
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Tianlin Shi
Attorney
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW.,
Washington, DC 20224
Phone:202 317-6987
Email: tianlin.shi@irscounsel.treas.gov