The U.S. IRS has released an international practice unit on Concepts of Global Intangible Low-Taxed Income. The general overview of the practice unit includes the following:

IRC 951A, which contains the global intangible low-taxed income ("GILTI") rules, was added to the Code by the Tax Cuts and Jobs Act ("TCJA"). A key feature of the TCJA was to provide corporate shareholders a 100% dividend…