
An overview of the proposed regs on the FDII and GILTI deduction
In March, the IRS issued proposed regulations that cover how to determine the amount of the deduction for foreign-derived intangible income (FDII) and global intangible low-taxed income (GILTI). The regs also coordinate the FDII and GILTI deduction with other tax provisions. This article provides an overview of the proposed regs.