Advance versions of final and proposed foreign tax credit (FTC) and related regulations were released by the IRS and the U.S. Treasury Department on September 29. The regulations finalize aspects of December 2019 proposed regulations and introduce new proposed guidance on several issues.
KPMG LLP (KPMG) is pleased to invite you to a 90-minute webcast that provides an overview of the nearly 600 pages of guidance and discuss how the provisions may affect multinational companies. Senior professionals from the KPMG Washington National Tax cover:
- Rules assigning taxes to various income groups
- Amendments to the expense allocation provisions
- New guidance for Section 905(c) foreign tax redeterminations
- Proposed amendments to the definition of a foreign income tax.
October 5, 2020 | Initial Impressions of Final and Proposed Foreign Tax Credit Regulations