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 ...

Among its provisions was a disallowance of credits or deductions for foreign taxes paid on dividends eligible for the DRD. New regs clarify the operation of the disallowance. Published on January ...

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 ...

Sam Edwards / Getty Images The foreign tax credit is a U.S. tax credit used to offset income tax paid abroad. U.S. citizens and resident aliens who pay income taxes imposed by a foreign country or ...

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 ...

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 ...

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 U.S. citizens with foreign income, knowledge of foreign tax credits and deductions is a crucial aspect of financial planning. These mechanisms are designed to prevent double taxation – when ...

Corporate tax payable may be reduced by any available foreign tax credit (FTC ... is calculated using the formula prescribed will be allowed as a FTC. The FTC granted cannot exceed the amount ...

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 ...

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 ...