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Two New (& One Updated) IRS Practice Units

2020-05-09

Yesterday the IRS published some new practice units and updated an existing practice unit. The new units included:

FEIE - Disallowance of FTCs for Foreign Taxes on Excluded Income (2020)
PTI (now PTEP) Exchange Gain or Loss (2020)

The updated practice unit was:

Official versus Free Market Exchange Rate (2020)

We have added these practice units to our Practice Units By Topic page.

(The IRS also yesterday published a practice unit on 481(a) Adjustments for 263A Accounting Method Changes. However, since this practice unit is not international related, we have not added it to our practice units by topic).

Tags: 911 Foreign Earned Income Exclusion, 986(c) PTEP Exch. Gain/Loss, Other - IRS Practice Units

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1(h)(11) Qualified Dividend Income
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83 Property for Services
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960 Deemed Paid Foreign Taxes
962 Election to be taxed as corporate rates
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986(c) PTEP Exch. Gain/Loss
987 Branch Transactions
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The posts on this blog have not been verified for accuracy. You should consult an attorney for legal advice regarding your own situation. These posts are not updated for changes in the tax laws. Further, these posts should not be relied upon for any purpose whatsoever.