<p>IRS Releases Practice Unit on Individual FTC Principles</p>

IRS Releases Practice Unit on Individual FTC Principles

Internal Revenue Service

The IRS made available an international practice unit on some individual foreign tax credit general principles, including the basis concept of the credit, identifying taxpayers eligible to claim the credit, which foreign taxes qualify for the credit, the FTC versus the foreign tax deduction, and the carryback and carryover of unused credit.

<p>The IRS made available an international practice unit on some individual foreign tax credit general principles, including the basis concept of the credit, identifying taxpayers eligible to claim the credit, which foreign taxes qualify for the credit, the FTC versus the foreign tax deduction, and the carryback and carryover of unused credit.</p>