May 16, 2022 / PRZen / TORONTO — The U.S. is one of a few countries in the world operating on a citizenship-based taxation basis, meaning that U.S. citizens are taxed on their worldwide income ...

If you are a U.S. citizen or resident, you are subject to U.S. income tax on your worldwide income. If you had income in a foreign country, you also may have to pay foreign income tax. The foreign ...

The Foreign Tax Credit is a way to lessen your U.S. tax liability and offset income taxes paid to other countries. Find out if you qualify this tax season: ...

The foreign tax credit can help mitigate the impact of the alternative minimum tax (AMT) for taxpayers with income taxed abroad. While the AMT limits certain deductions and credits, it does allow a ...