Regulation & law · 07/11/2007

IRS Withdraws Portions of 1988 Proposed Regulations on Foreign Tax Credit

The Internal Revenue Service (IRS) and the Treasury Department are issuing temporary regulations to clarify a taxpayer's obligation to notify the IRS of a foreign tax redetermination, following statutory changes made by the Taxpayer Relief Act of 1997 and the American Jobs Creation Act of 2004.