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HIGHLIGHTS Bulletin No. 2026–40 OF THIS ISSUE September 28, 2026

INCOME TAX

Internal Revenue Bulletin 2026-40 · 2026-10-03 edition · updated 2026-10-04 · United States

REG-117273-25, page 450. These proposed regulations provide guidance on allocating and apportioning deductions to foreign source section 951A

Finding Lists begin on page ii.

category income and reallocating certain deductions to U.S. source income for purposes of determining the foreign tax credit limitation. These proposed regulations also provide guidance on determining the amounts that reduce deduction eligible income for purposes of determining the deduction allowed under section 250.

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▸Contents — Internal Revenue Bulletin 2026-40

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