The Resource New tax rules on foreign tax credit and foreign housing cost exclusion

New tax rules on foreign tax credit and foreign housing cost exclusion

Label
New tax rules on foreign tax credit and foreign housing cost exclusion
Title
New tax rules on foreign tax credit and foreign housing cost exclusion
Creator
Subject
Language
eng
Summary
On 17 May 2006 the US Congress enacted the Tax Increase Prevention and Reconciliation Act (the Act) under which the tax rate bracket in determining the tax liability on any foreign-source income in excess of the exclusion amount has been changed. The Act also sets the limit on the foreign housing cost exclusion. On 23 October 2006 the IRS issued Bulletin 2006-43 that modifies that limit by taking into account the housing cost at different geographical locations in the world. These new tax rules have far-reaching consequences on US citizens working abroad. This article discusses the new rules
Citation source
In: International tax journal. - Chicago. - Vol. 33 (2007),
http://library.link/vocab/creatorName
  • Yang, J.G.S
  • Chung, S
  • Lin, B
Geographic coverage
International
Language note
English
http://library.link/vocab/subjectName
  • foreign tax credit
  • foreign earned income exclusion
Label
New tax rules on foreign tax credit and foreign housing cost exclusion
Instantiates
Publication
Label
New tax rules on foreign tax credit and foreign housing cost exclusion
Publication

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