Treasury and IRS release draft partnership form to provide greater clarity on international tax reporting

Business Owners, IRS News, Services, Tax ReformThe Doty GroupJuly 15, 2020International Tax, International Business, Foreign Partnerships, Foreign Activities, Partners' Distributive Share Items, K-2, K-3, Form 1116, Foreign Tax Credit, Income Tax Return of a Foreign Corporation, Foreign Derived Intangible Income, Global Intangible Low-Taxed Income

Treasury, IRS issue final regulations on the Foreign Tax Credit

The Foreign Tax Credit is a long-standing tax benefit that generally allows individuals and businesses to claim a credit for income taxes paid or accrued to foreign governments.

Individuals, IRS News, Services, Tax ReformThe Doty GroupDecember 2, 2019Foreign Tax Credit, Tax Cuts and Jobs Act, TCJA, International Tax, 245A, GILTIComment

IRS: Free Webinars Cover Foreign Tax Credit and Taxes for People Working Abroad

IRS offers webinars to help small businesses and other employers answer their tax related questions.