IR-2020-147, July 9, 2020
WASHINGTON — The Internal Revenue Service issued final regulations that provide guidance on deductions for foreign-derived intangible income (FDII) and global intangible low-taxed income allowed to domestic corporations under the Internal Revenue Code.
These final regulations provide guidance on both the computation of the deductions available and the determination of FDII.
In addition, the guidance provides rules for the computation of FDII in the consolidated return context.
The guidance published today also finalizes the reporting rules requiring the filing of Form 8993, Section 250 Deduction for Foreign-Derived Intangible Income and Global Intangible Low-Taxed Income.
For more information about this and other Tax Cuts and Jobs Act provisions, visit IRS.gov/taxreform.
Federal bank regulatory agencies today released a guide to support community banks in managing risks…
WASHINGTON – From May 6th to May 9th, Under Secretary of the Treasury for Terrorism…
As Prepared for DeliveryI. IntroductionGood afternoon. Thank you to the McCain Institute for the invitation…
WASHINGTON – Today the U.S. Department of the Treasury and Internal Revenue Service (IRS) released…
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC)…
WASHINGTON – Today, the U.S. Department of the Treasury and Internal Revenue Service (IRS) outlined…