Getting Gone Tax Debts In Bankruptcy: Difference between revisions
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Latest revision as of 15:07, 8 October 2026
A credit is allowed for foreign income taxes paid or accrued. The financing is limited compared to that part of Ough.S. tax due to foreign source income. It isn't refundable, but any excess credit can be carried to other years to reduce tax. A personal exemption reduces your taxable income so you end up paying lower taxes. You could be even luckier if the exemption brings you a few lower tax bracket. For the year 2010 it is $3650 per person, same as last year's amount.
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