IRS expects to release new foreign tax credit guidance before the holidays

US Outbound Newsalert

The IRS has signalled that it expects to issue several major pieces of foreign tax credit ("FTC") guidance this month. An IRS official publicly stated that the IRS and Treasury plan to release guidance under section 909, section 901(m), and (probably) regulations on legal liability (also known as the technical taxpayer rule), all "by the holidays".



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