U.S. IRS Updates Practice Units on Foreign Tax Credits for Individuals

The U.S. IRS has published three updated practice units concerning foreign tax credits for individuals:

• FTC Sourcing of Income
• FTC Carryback and Carryover
• FTC Categorization of Income and Taxes

The general/process overviews of each practice unit are as follows:

FTC Sourcing of Income (Revised 17 January 2025)

Note: This Practice Unit updates the 4/12/17 (originally 12/07/16) Practice Unit "Sourcing of Income". The update provides some clarifying narrative as well as updated images o…