Internal Revenue Service April 7, 2011 – Federal Register Recent Federal Regulation Documents

Publication of Inflation Adjustment Factor, Nonconventional Source Fuel Credit, and Reference Price for Calendar Year 2010
Document Number: 2011-8230
Type: Notice
Date: 2011-04-07
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
Publication of the inflation adjustment factor, nonconventional source fuel credit, and reference price for calendar year 2010 as required by section 45K of the Internal Revenue Code (26 U.S.C. 45K). The inflation adjustment factor and reference price are used to determine the credit allowable under section 45K for coke or coke gas (other than from petroleum based products) for calendar year 2010.
Reduction of Foreign Tax Credit Limitation Categories Under Section 904(d)
Document Number: 2011-8229
Type: Rule
Date: 2011-04-07
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations that provide guidance relating to the reduction of the number of separate foreign tax credit limitation categories under section 904(d) of the Internal Revenue Code. Changes to the applicable law were made by the American Jobs Creation Act of 2004 (AJCA) reducing the number of section 904(d) separate categories from eight to two, effective for taxable years beginning after December 31, 2006. The final regulations provide guidance needed to comply with these changes and affect individuals and corporations claiming foreign tax credits.