The budget reconciliation bill passed the House of Representatives by a one-vote margin, 215 to 214, and soon will be considered by Senate committees. The day before the House vote, the Rules Committee...
State regulations on housing discrimination protect individuals even when they are not otherwise included under federal law. Explore this U.S. 50 state, District of Columbia, and U.S. territories law survey...
Artificial intelligence (AI) is no longer a future consideration—it’s a core component of how businesses operate today. From automating workflows to powering proprietary tools, AI is reshaping...
This checklist covers the applicability of artificial intelligence (AI) in areas critical to life sciences and healthcare companies, including data privacy, intellectual property, and research and development...
Do you need to understand key labor and employment considerations for companies and their legal counsel navigating mergers and acquisitions and other business transactions? Review our recently published...
* The views expressed in externally authored materials linked or published on this site do not necessarily reflect the views of LexisNexis Legal & Professional.
The Internal Revenue Service and the Department of the Treasury have released new final foreign tax credit regulations. 87 Fed. Reg. 276 (Jan. 4, 2022). The regulations overhaul what it means for a foreign tax to be claimed as a credit. Under the new rules, you now must determine whether the foreign tax satisfies a new “attribution requirement” for it to be creditable under I.R.C. Sections 901 or 903. Taxpayers and practitioners should evaluate the creditability of a tax by examining the tax imposed by a foreign country on income to ensure it has sufficient nexus to an activity in that foreign country (for example, operations, employees, factors of production). If the sufficient nexus test cannot be met, then the tax is not creditable.
READ NOW »
Related Content
Practical Guidance Updates Featuring the latest updates from your Practical Guidance account.
Experience results today with practical guidance, legal research, and data-driven insights—all in one place.Experience Lexis+