The Court of Appeals for the Second Circuit upheld a lower court’s ruling that a taxpayer’s refund claim due to a change from the foreign tax credit to the foreign tax deduction was not timely.

Under the Corporate Income Tax (CIT) law 1, a Resident Person, whether a juridical or natural person, is subject to tax on its worldwide income, including income derived from foreign sources. Foreign ...

The foreign tax credit can help mitigate the impact of the alternative minimum tax (AMT) for taxpayers with income taxed abroad. While the AMT limits certain deductions and credits, it does allow a ...

Claiming large refunds, and doing so by amending returns, increases the chance your filings will be scrutinized.

The tax deadline for U.S expats was June 16, but there are some tax credits and deductions you can still claim if you're an American living abroad. Living overseas won’t let you off the hook from ...

In the wake of the news of state-aid investigations by the European Union and the EU’s order that Apple Inc. repay $14.5 billion in Irish tax breaks, the IRS announced in September that it intends to ...

This bulletin follows our previous update on evolving U.S. tax reform, which highlighted the competing House and Senate proposals, particularly the introduction and scope of proposed Section 899 ...

Are you thinking about packing your bags and moving overseas? It’s a big step, and there’s more to it than logistics. There are some serious tax implications to think about. Let’s look at the basics ...

The U.S. Treasury Department said Thursday it plans to reclassify certain refundable tax credits as "federal public benefits," which will bar some immigrant taxpayers from receiving them, even if they ...