Treasury releases final and proposed foreign tax credit regulations

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September 2020

Overview

Today, Treasury and the IRS released final regulations under Sections 245A, 301, 704, 861, 881, 904, 905, 954, 960, 965, 1502; and proposed regulations under Sections 164, 245A, 250, 336, 338, 367, 861, 901, 903, 904, 905, and 960. The final and proposed regulations provide administrative guidance for the Foreign Tax Credit (FTC) regime, which was updated in the 2017 tax reform act.

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Doug McHoney

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