Proposed rule: Section 898(c) Transition Rule for Allocating Foreign Taxes and Section 960(d)(4) Foreign Tax Credit Disallowance; Correction
Agencies: Treasury Department, Internal Revenue Service — This document contains corrections to the proposed regulations (REG-115145-25), published in the Federal Register on August 3, 2026. These proposed regulations relate to allocating foreign taxes of foreign corporations affected by the repeal of the one-month deferral election and to the disallowance of foreign tax credits on certain distributions of previously taxed earnings and profits. — [topic:election+agency:epa]
Evidence
1 sources- 01https://www.federalregister.gov/documents/2026/08/31/2026-17764/section-898c-transition-rule-for-allocating-foreign-taxes-and-section-960d4-foreign-tax-credit
Federal Register
trust 0.98“This document contains corrections to the proposed regulations (REG-115145-25), published in the Federal Register on August 3, 2026. These proposed regulations relate to allocating foreign taxes of foreign corporations affected by the repeal of the one-month deferral election and to the disallowance of foreign tax credits on certain distributions of previou…”
Across the aisle
Voices on this issue
Independent voices from different starting points, on the record about this kind of action. The framework grades behavior, not party — these quotes come from people who would say the same thing under any administration.
From the right
“The first job of an opposition party in a free country is to win elections fairly. The first job of a governing party is to lose them gracefully when the time comes. Both are non-negotiable.”
Mona Charen
Conservative columnist; author of 'Sex Matters' and former speechwriter in the Reagan administration.
From Charen's essay 'What Are We Conserving?' The Bulwark, 'What Are We Conserving?'