Republicans in the U.S. House Ways and Means Committee have announced a letter sent to Treasury Secretary Yellen on 16 June 2022, urging a delay in the implementation of the foreign tax credit regulations issued at the end of 2021. The regulations, Guidance Related to the Foreign Tax Credit; Clarification of Foreign-Derived Intangible Income (TD 9959), were released on 28 December 2021 and formally published in the Federal Register on 4 January 2022. The regulations are generally effective on 7 March 2022. The full letter is as follows: --- Secretary Yellen: The clear intent of Congress when it codified the...