The U.S. IRS has released international practice units on: Stock Basis Ordering Rules, which address the stock basis ordering rules to determine the taxability of distributions as well as the deductibility of loss and deduction items for shareholders in S corporations that receive pass-through losses and distributions in the same year; and U.S. Territories - Self-Employment Tax, which discusses the self-employment tax (social security and Medicare tax) obligations of U.S. citizens and resident aliens who are self-employed in a U.S. territory. International practice units are developed by the Large Business and International Division of the IRS to provide staff with...