Foreign Tax Credit Archives - Page 3 of 4 - FREE Yourself from IRS Problems

Shamsey Oloko September 23, 2016 FATCA, FBAR, Foreign Financial Account, Foreign Tax Credit 0

A Primer on Foreign Tax Credit

U.S. taxpayers that have paid or accrued foreign taxes to a foreign country or U.S. possession, while subject to U.S. tax on the same income, may be able to take either a credit or an itemized deduction for these payments…

Shamsey Oloko July 6, 2016 Foreign Tax Credit, Income Tax, Tax Credit 0

Foreign Tax Credit For Individuals

Federal tax law provides the foreign tax credit to relieve taxpayers of the double tax burden imposed when their foreign income is taxed by both the United States and the foreign country where their income originated. Usually, if the foreign…

Shamsey Oloko June 27, 2016 Foreign Financial Account, Foreign Tax Credit, Fraudulent Return, Punitive Damages, Tax Evasion, Tax Fraud 0

US To Require Banks To Disclose Owners Of Shell Companies

In the first week of May, 2016, the U.S. Department of the Treasury announced several actions to strengthen financial transparency and combat the misuse of companies to engage in illicit activities. Treasury announced a Customer Due Diligence (CDD) Final Rule,…