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Credit Limitations” Please respond to the following:
- Based on the
e-Activity, research the limits on foreign tax credits. Based on your
research, propose how you would categorize tax credits for reporting
purposes to IRS.
Go to the Internal Revenue Service Website, located at http://www.irs.gov, to search and
read the latest filling year’s “Publication 514”, specifically reviewing the
section on tax credit limitations.
- Propose how you
would defend a client against an IRS audit of tax credits that were
Please make sure that the bullet point and solutions are together and its at least a paragraph or two long.