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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- 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.
