The U.S. IRS has released an updated international practice unit, Section 861 - Home Office and Stewardship Expenses, which addresses the deductibility of home office and stewardship expenses by a U.S. branch of a foreign corporation. The issue and transaction overview of the practice unit is as follows: Issue and Transaction Overview Note: This Practice Unit was updated to remove references to resources that are no longer current or available and to correct minor typographical or formatting errors. Slide 3 was updated to remove a reference to Form 1120-F, Schedule H, line 40(a) because this line reference was inaccurate. It...