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Created page with "A credit is allowed for foreign income taxes paid or accrued. The financing is limited compared to that part of You.S. tax due to foreign source income. It's not refundable, but any excess credit end up being the carried to other years to reduce tax.<br><br>Aside to the obvious, rich people can't simply get tax debt help based on incapacity to fund. IRS won't believe them in. They can't also declare bankruptcy without merit, to lie about it would mean jail for these kind..."
 
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