International Tax Gap Series Foreign tax credits allow U.S. taxpayers to avoid or reduce double taxation. You may choose to take a deduction for foreign taxes paid instead of choosing a credit. In most cases, it is to your advantage to take foreign income taxes as a tax credit. Refer to the Foreign Tax Credit page for more details. References and Links For more information on claiming a foreign tax credit, the following information is available: International Taxpayer Foreign Tax Credit Compliance Tips How to Figure the Foreign Tax Credit Publication 514, Foreign Tax Credit for Individuals Publication 901, U.S. Tax Treaties Form 1116, Foreign Tax Credit, and Instructions Form 1118 Foreign Tax Credit - Corporations, and Instructions Return to: The International Tax Gap Series
