{"abstract":"This document contains corrections to Treasury Decision 9959, which was published in the Federal Register on Tuesday, January 4, 2022. Treasury Decision 9959 contained final regulations relating to the foreign tax credit, including the disallowance of a credit or deduction for foreign income taxes with respect to dividends eligible for a dividends-received deduction, the allocation and apportionment of interest expense, foreign income tax expense, and certain deductions of life insurance companies; the definition of a foreign income tax and a tax in lieu of an income tax; the definition of foreign branch category income; and the time at which foreign taxes accrue and can be claimed as a credit.","action":"Final rule; correction and correcting amendments.","agencies":[{"raw_name":"DEPARTMENT OF THE TREASURY","name":"Treasury Department","id":497,"url":"https://www.federalregister.gov/agencies/treasury-department","json_url":"https://www.federalregister.gov/api/v1/agencies/497","parent_id":null,"slug":"treasury-department"},{"raw_name":"Internal Revenue Service","name":"Internal Revenue Service","id":254,"url":"https://www.federalregister.gov/agencies/internal-revenue-service","json_url":"https://www.federalregister.gov/api/v1/agencies/254","parent_id":497,"slug":"internal-revenue-service"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2022/07/27/2022-15867.html","cfr_references":[{"chapter":null,"citation_url":null,"part":"1","title":26}],"citation":"87 FR 45018","comment_url":null,"comments_close_on":null,"correction_of":null,"corrections":[],"dates":"Effective date: These corrections are effective on July 27, 2022.","disposition_notes":null,"docket_ids":["TD 9959"],"dockets":[{"supporting_documents":[{"title":"Foreign Tax Credit: Clarification of Foreign-Derived Intangible Income; Guidance; Correction","document_id":"IRS-2020-0040-0039"},{"title":"Foreign Tax Credit: Clarification of Foreign-Derived Intangible Income; Guidance; Correction","document_id":"IRS-2020-0040-0038"},{"title":"Guidance Related to the Foreign Tax Credit; Clarification of Foreign-Derived Intangible Income","document_id":"IRS-2020-0040-0035"},{"title":"Foreign Tax Credit: Clarification of Foreign-Derived Intangible Income; Guidance","document_id":"IRS-2020-0040-0034"},{"title":"Public Hearing: Guidance Related to the Foreign Tax Credit; Clarification of Foreign-Derived Intangible Income","document_id":"IRS-2020-0040-0031"},{"title":"Guidance: Allocation and Apportionment of Deductions and Foreign Taxes, Foreign Tax Redeterminations, Foreign Tax Credit Disallowance, Consolidated Groups, Hybrid Arrangements and Certain Payments","document_id":"IRS-2020-0040-0003"},{"title":"Guidance: Foreign Tax Credit; Clarification of Foreign-Derived Intangible Income (REG–101657–20)","document_id":"IRS-2020-0040-0001"}],"agency_name":null,"documents":[{"comment_count":0,"comment_start_date":"2022-07-27","updated_at":"2023-02-27T21:59:39.061-05:00","comment_url":"https://www.regulations.gov/commenton/IRS-2020-0040-0039","allow_late_comments":null,"id":"IRS-2020-0040-0039","comment_end_date":null,"regulations_dot_gov_open_for_comment":false}],"supporting_documents_count":7,"id":"IRS-2020-0040","title":"Guidance: Foreign Tax Credit; Clarification of Foreign-Derived Intangible Income (REG–101657–20)"}],"document_number":"2022-15867","effective_on":"2022-07-27","end_page":45021,"executive_order_notes":null,"executive_order_number":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2022/07/27/2022-15867.xml","html_url":"https://www.federalregister.gov/documents/2022/07/27/2022-15867/guidance-related-to-the-foreign-tax-credit-clarification-of-foreign-derived-intangible-income","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/2022-15867?publication_date=2022-07-27","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2022-07-27/2022-15867/mods.xml","not_received_for_publication":null,"page_length":4,"page_views":{"count":1448,"last_updated":"2026-07-28 02:15:03 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2022-07-27/pdf/2022-15867.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2022-15867.pdf?1658839513","publication_date":"2022-07-27","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2022/07/27/2022-15867.txt","regulation_id_number_info":{"1545-BP70":{"issue":"202304","html_url":"https://www.federalregister.gov/regulations/1545-BP70/guidance-related-to-the-foreign-tax-credit-clarification-of-foreign-derived-intangible-income","title":"Guidance Related to the Foreign Tax Credit, Clarification of Foreign-Derived Intangible Income","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=202304&RIN=1545-BP70&operation=OPERATION_EXPORT_XML","priority_category":"Economically Significant"}},"regulation_id_numbers":["1545-BP70"],"regulations_dot_gov_info":{"supporting_documents":[{"title":"Foreign Tax Credit: Clarification of Foreign-Derived Intangible Income; Guidance; Correction","document_id":"IRS-2020-0040-0039"},{"title":"Foreign Tax Credit: Clarification of Foreign-Derived Intangible Income; Guidance; Correction","document_id":"IRS-2020-0040-0038"},{"title":"Guidance Related to the Foreign Tax Credit; Clarification of Foreign-Derived Intangible Income","document_id":"IRS-2020-0040-0035"},{"title":"Foreign Tax Credit: Clarification of Foreign-Derived Intangible Income; Guidance","document_id":"IRS-2020-0040-0034"},{"title":"Public Hearing: Guidance Related to the Foreign Tax Credit; Clarification of Foreign-Derived Intangible Income","document_id":"IRS-2020-0040-0031"},{"title":"Guidance: Allocation and Apportionment of Deductions and Foreign Taxes, Foreign Tax Redeterminations, Foreign Tax Credit Disallowance, Consolidated Groups, Hybrid Arrangements and Certain Payments","document_id":"IRS-2020-0040-0003"},{"title":"Guidance: Foreign Tax Credit; Clarification of Foreign-Derived Intangible Income (REG–101657–20)","document_id":"IRS-2020-0040-0001"}],"regulatory_plan":{"html_url":"https://www.federalregister.gov/regulations/1545-BP70/guidance-related-to-the-foreign-tax-credit-clarification-of-foreign-derived-intangible-income","title":"Guidance Related to the Foreign Tax Credit, Clarification of Foreign-Derived Intangible Income"},"comments_count":0,"agency_id":"IRS","comments_url":"https://www.regulations.gov/docketBrowser?rpp=50&so=DESC&sb=postedDate&po=0&dct=PS&D=IRS-2020-0040","supporting_documents_count":7,"docket_id":"IRS-2020-0040","document_id":"IRS-2020-0040-0039","regulation_id_number":"1545-BP70","title":"Guidance: Foreign Tax Credit; Clarification of Foreign-Derived Intangible Income (REG–101657–20)","checked_regulationsdotgov_at":"2023-02-28T02:59:38Z"},"regulations_dot_gov_url":null,"significant":true,"signing_date":null,"start_page":45018,"subtype":null,"title":"Guidance Related to the Foreign Tax Credit; Clarification of Foreign-Derived Intangible Income; Correction","toc_doc":"Clarification of Foreign-Derived Intangible Income; Guidance; Correction","toc_subject":"Foreign Tax Credit:\n","topics":["Income taxes","Reporting and recordkeeping requirements"],"type":"Rule","volume":87}