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Information about Publication 514, Foreign Tax Credit for Individuals, including recent updates and related forms. Publication 514 discusses the credit you may be able to take if you paid taxes to a foreign country on foreign source income and you are subject to U.S. tax on that same income.

Publication 514, Foreign Tax Credit for Individuals, explains that you may be able to take either a credit or an itemized deduction for foreign taxes. Taken as a deduction, foreign income taxes reduce your U.S. taxable income. Taken as a credit, foreign income taxes reduce your U.S. tax liability.

Unrelated Business Income From Debt-Finance Property Under IRC Section 514

Publication 570 discusses how to treat income received in U.S. possessions on your U.S. income tax return. It also discusses whether you have to file a return with the territory. This publication discusses how to treat income received in U.S. territories on your income tax return.

A public pronouncement containing guidance that involves substantive interpretations of the Code or other laws specific to retirement plans.

Issued guidance regarding proposed procedural changes. Notices also request public comment with respect to the administration of the tax laws. The provided materials relate specifically to tax-exempt bonds.

As already indicated, you can claim a foreign tax credit only for foreign taxes on income, war profits, or excess profits, or taxes in lieu of those taxes.

Foreign Sourced Qualified Dividends and Gains; Interest Expense Apportioned; Charitable Contributions

Topic No. 856 Foreign Tax Credit

Foreign Housing Exclusion or Deduction