obe james

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  • September 17, 2011 at 9:05 pm in reply to: Costa Rica’s proposed “universal” income tax #167887
    obe james
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    [b]Question: [/b]Does anyone know for certain if the IRS Code makes any allowance for income taxes paid to a foreign country? If I pay (say) $1,000 in income tax under this Costa Rican proposal, do I get any relief under the IRS Code? We itemize our federal return and deduct our property taxes on the Schedule A. Is there a means to deduct or (better still) claim as a credit foreign income taxes?

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