How To Deal With Tax Preparation: Difference between revisions

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Latest revision as of 23:52, 31 January 2025

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

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The auditor going using your books doesn't necessarily want to find a problem, but he's to find a problem. It's his job, and he's to justify it, along with the time he takes to create it happen.

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