The U.S. IRS and Treasury have issued correcting amendments to the final regulations (TD 9901) providing guidance on the deduction for foreign-derived intangible income (FDII) and global intangible low-taxed income (GILTI).

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SUMMARY:

This document contains corrections to Treasury Decision 9901, which was published in the Federal Register on Wednesday, July 15, 2020. The Treasury Decis…