U.S IRS Releases Practice Unit on Exhaustion of Administrative Remedies for Foreign Tax Credit
The U.S. IRS has released an international practice unit on Exhaustion of Administrative Remedies in relation to claims for a foreign tax credit. In general, for foreign tax to be creditable, it must be compulsory, meaning it is required under the taxing authority of a foreign government. Foreign taxes paid in excess of what is legally required under foreign law are considered noncompulsory, n…
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