Interaction of International Tax Provisions with Business Provisions in the CARES Act [Updated April 10, 2020] [open pdf - 528KB]
From the Document: "The Coronavirus Aid, Relief, and Economic Security (CARES) Act (P.L. 116-136) included two general tax benefits for business: net operating losses (NOLs) and interest deductions, which reduce taxable income and tax liability. These provisions may interact with existing international tax provisions enacted in the 2017 tax revision, popularly known as the Tax Cuts and Jobs Act, or TCJA (P.L. 115-97). The TCJA also decreased tax rates, including reducing the corporate rate from 35% to 21%."
CRS Insight, IN11314
Congressional Research Service: https://crsreports.congress.gov/