6511(d)(3)(A) states that the 10-year limitation period applies only to refund claims when a foreign tax credit had been allowed. Because the options to deduct or credit foreign taxes are mutually ...

As discussed in a previous article, the Foreign Tax Credit (FTC) is a bedrock of the ... that the base of the tax allowed for the respective deductions associated to earning of the income, such ...

Such expansive changes to the foreign tax credit rules overstep Treasury ... eliminated a substantial amount of double taxation and allowed U.S.-headquartered companies to operate on more ...

a decreased foreign tax credit relating to German tax liabilities; and (2) an increase in the minimum tax credit allowed under the alternative minimum tax rules. The net effect of these changes ...

The United States taxes citizens on their income, no matter where it's earned. Here's how to lower the tax bill. Many, or all, of the products featured on this page are from our advertising ...

Though the court previously allowed class certification in the case ... Income Security Act fiduciary duty of loyalty by receiving and retaining foreign tax credits for the international investment ...

While the AMT limits certain deductions and credits, it does allow a portion of the foreign tax credit to reduce U.S. tax liability. However, specific rules govern how much of the credit applies ...

For example, if John owed $10,000 in U.S. taxes and had paid $4,000 in foreign taxes, the foreign tax credit could reduce his U.S. tax bill by $4,000. The foreign tax credit helps prevent double ...