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What is foreign tax credit? Whether you have received earned income, interest, dividends, and rental income from foreign sources, you may have to pay income taxes to foreign countries. If you are a U.S. citizen or resident, you are generally subject to U.S. income tax on your worldwide earnings.  The foreign tax credit is intended […]

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If you are a U.S. citizen or a resident alien of the United States and you live and work in another country, you have to pay income tax to the local jurisdiction where you actually live and work. And you have to report this income on your United States income tax form as well. The […]

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