What Will Be The Irs Voluntary Disclosure Amnesty: Difference between revisions

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Latest revision as of 10:43, 21 September 2024

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A credit is allowed for foreign income taxes paid or accrued. The money is limited to that particular part of Oughout.S. tax due to foreign source income. It's not refundable, but any excess credit can be carried to other years to reduce tax.

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