On 11 April 2017, the U.S. IRS published an international practice unit: FTC General Principles. The practice unit provides an overview of the following foreign tax credit (FTC) principles: Basic concept of FTC; Identifying taxpayers eligible for FTC; The foreign taxes that qualify for FTC; Foreign tax credit vs. foreign tax deduction; and The carryback and carryover of unused credits. International practice units are developed by the Large Business and International Division of the IRS to provide staff with explanations of general international tax concepts as well as information about specific transaction types. They are not an official pronouncement of...