IRS Proposes Regulations on Deduction for Foreign Intangible Income
from Accounting Today
The IRS has proposed regulations that offer domestic corporations deductions for foreign-derived intangible income and global intangible low-taxed income, both added by the Tax Cuts and Jobs Act. The regulations provide guidance on computation of deductions under Sec. 250 and determination of FDII, and provide rules for the computation of FDII in the consolidated return context.
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