New proposed regulations for the foreign-derived intangible income (FDII) deduction include strict documentation requirements. A recent KPMG audio conference stressed the importance of obtaining the necessary records. Only Prescribed Records Can Document FDII To realize FDII, a taxpayer must: provide services to a foreign person, or sell property for a foreign use. The proposed regulations […]
The post Documentation Requirements Are Important Piece of Proposed Regs for FDII Deduction appeared first on Tax & Accounting Blog.