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 ...

Such expansive changes to the foreign tax credit rules overstep Treasury’s rulemaking authority, hinging on a strained definition of what qualifies as income tax. The 2021 final FTC regulations ...

retains the general definition of reattribution asset but is revised to exclude any portion of the tax book value of property transferred in a disregarded sale from being attributed back to the selling taxable units,” Generally, a foreign tax satisfies ...

Foreign tax credits also come up in the context of employment income ... The judge therefore concluded that the amounts collected by the Spanish government “do not meet the definition of a tax, in that they were not collected for a public interest.…

That strategy also probably meant that you ended up paying foreign taxes on your investment. But you can recoup that cost on your tax return. The Internal Revenue Service gives you two ways to use ...

This definition of property rights includes ... The Court held that the Plan did not hold a beneficial ownership interest in the foreign tax credits because they were not owned by the Plan ...

You can never escape Uncle Sam. The U.S. and Eritrea are the only two countries in the world where taxes aren’t based on residency. That means no matter where Americans live, they’re subject ...