U.S. IRS and Treasury Issue Corrections to Regulations Providing Guidance Related to the Foreign Tax Credit; Clarification of Foreign-Derived Intangible Income

The U.S. IRS and Treasury have issued corrections to the regulations, Guidance Related to the Foreign Tax Credit; Clarification of Foreign-Derived Intangible Income (TD 9959). The corrections are made through two separate documents, including correction document 2022-15867 and correction document 2022-15868. Both documents include corrections to fix typographical errors and further clarify the regulations, while correction document 2022-15867 also contains more material revisions. This inc…