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:
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).