Bloomberg Tax
Feb. 22, 2019, 4:29 PM UTC

Tax Rules for Foreign-Sourced Income Near Release

Isabel Gottlieb
Isabel Gottlieb
Reporter

The Internal Revenue Service may within days release rules explaining how U.S.-based multinationals can receive a deduction on certain kinds of income from foreign sources.

The White House Office of Management and Budget completed its review and sent the regulations back to the Treasury Department Feb. 21, Lafayette “Chip” Harter, deputy assistant secretary of international tax affairs at Treasury, told Bloomberg Tax Feb. 22. The rules could be released by the middle of next week, he said.

  • Foreign-derived intangible income, Section 250(a), one of the international provisions in the 2017 tax overhaul, lets companies lower their tax rate by providing ...

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