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• 21:22, 22 January 2025 HwaPruett1 talk contribs created page 3 Products In Taxes For Online Businessmen (Created page with "A credit is allowed for foreign income taxes paid or accrued. The money is limited certain part of U.S. tax due to foreign source income. It's not at all refundable, but any excess credit may be carried to other years to reduce tax.<br><br>Basically, the internal revenue service recognizes that income earned abroad is taxed with resident country, and possibly be excluded from taxable income coming from the IRS in case the proper forms are applied. The source of the incom...")