Statements (28)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
gptkb:tax_law
|
| gptkbp:alternativeTo |
deduction for foreign taxes
|
| gptkbp:appliesTo |
U.S. taxpayers
taxes paid to foreign governments |
| gptkbp:canBe |
corporations
individuals |
| gptkbp:cannotBeClaimedFor |
taxes not considered income taxes
|
| gptkbp:carrybackPeriod |
1 year
|
| gptkbp:carryforwardPeriod |
10 years
|
| gptkbp:codifiedIn |
Internal Revenue Code Section 901
|
| https://www.w3.org/2000/01/rdf-schema#label |
Foreign Tax Credit
|
| gptkbp:introducedIn |
1918
|
| gptkbp:notAllowedFor |
taxes paid to certain countries under U.S. sanctions
|
| gptkbp:notRefundable |
true
|
| gptkbp:prohibits |
U.S. tax liability
|
| gptkbp:publicLawNumber |
IRS Form 1116
|
| gptkbp:purpose |
avoid double taxation
|
| gptkbp:reduces |
U.S. tax liability
|
| gptkbp:regulates |
gptkb:Internal_Revenue_Service
|
| gptkbp:relatedTo |
double taxation treaties
|
| gptkbp:requires |
foreign tax must be a legal and actual tax liability
tax must be imposed on the taxpayer tax must be paid or accrued |
| gptkbp:subject |
overall limitation
per-country limitation |
| gptkbp:usedIn |
international tax planning
|
| gptkbp:bfsParent |
gptkb:U.S._expatriates
|
| gptkbp:bfsLayer |
5
|