Foreign Tax Credits in 2018

he Internal Revenue Service recently issued proposed regulations on foreign tax credits for businesses and individuals after major changes in last year’s tax overhaul . The proposed regulations offer guidance on calculating foreign tax credits, and include rules for allocating and apportioning deductions that determine taxable income from foreign sources.  If you have foreign source income from work or investments, Guber and Company, CPAs will be happy to help you with new rules. Please call Eileen Guber, CPA at (215) 876-9800.

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