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 ...

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 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.

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 ...

A common strategy many wealth management firms recommend is ensuring that as much as 30% of your portfolio includes foreign investments and securities. What is the potential tax impact of foreign ...