The U.S. IRS has published a practice unit on FTC (Business) General Principles. The general overview of the practice unit is as follows:

This Practice Unit discusses the following business Foreign Tax Credit (FTC) general principles. The Unit addresses the FTC as changed by the Tax Cuts and Jobs Act of 2017 (TCJA).

• Basic concept of FTC
  • Modified world-wide taxation
  • Double-taxation
  • Foreign t…