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U.S IRS Releases Practice Unit on Exhaustion of Administrative Remedies for Foreign Tax Credit

|Approved Changes|United States
United States

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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