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... Read more →
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