U.S. Claims Court Allows Foreign Tax Credit on NII Tax
A recent Tax Notes article gives a good reporting on the important US Claims Court decision allowing for the use of Foreign Tax Credits to offset the Net Investment Income Tax (NII). Although the case relates specifically to the use of French taxes to offset the NII through an interpretation of the French-American tax treaty, the implications could go further and include all countries with US tax treaties. ACA is watching developments carefully on this issue and will provide updates.
Related
Court Rules that Foreign Tax Credits can be used to offset the Net Investment Income Tax (NIIT)
Posted by Marylouise American Citizens Abroad
October 30, 2023
ACA submits commentary regarding the FinCEN Form 114, Foreign Bank Account Report (FBAR)
Posted by Marylouise American Citizens Abroad
September 30, 2023
ACA back to holding Town Hall Evenings in Switzerland
Posted by Marylouise American Citizens Abroad
August 24, 2023
American Citizens Abroad Political Action Committee, ACA-PAC Ready to Accept Contributions.
Posted by Marylouise American Citizens Abroad
August 09, 2023
Latest
ACA submission to the US Treasury with commentary on the Fin-CEN-114 (FBAR) form (April 29, 2024)
Posted by Aca Admin
April 29, 2024