Industry groups representing sectors including real estate, finance and multinational companies are pushing for the reduction ...

To avoid double taxation, the Internal Revenue Service provides a foreign tax deduction and tax credit. Only foreign income tax qualifies for the tax credit, but you can claim foreign sales tax as ...

New final regulations pose significant implications for possible income inclusions by U.S. corporations with foreign ...

“Taken as a deduction, foreign income taxes reduce your U.S. taxable income,” the IRS said. But the IRS noted “in most cases, it is to your advantage to take foreign income taxes as a tax ...

“A tax deduction reduces your taxable income ... 30% of the cost of property put into service in 2022 through 2032. Foreign tax credit. The foreign tax credit allows taxpayers to receive ...

On a federal level, the IRS doesn't offer a universal tax incentive for all renters. The foreign housing deduction is the closest thing to a federal deduction available for renters. So ...