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RL34494
The Foreign Tax Credit's Interest Allocation Rules
Federal & State Law Editorial TeamLast reviewed: August 2008
August 20, 2008
Summary
This report discusses the foreign tax credit's interest allocation rules, which alleviate the double-taxation that would result if U.S. investors' overseas income were to be taxed by both the United States and a foreign country.
Note: CRS reports are prepared for Members of Congress and their staffs. This summary is provided for informational purposes and does not constitute legal advice.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.