Supreme Court Agrees to Hear Divided Circuit Case Regarding Creditability of Foreign Taxes

By on November 26, 2012
Posted In Tax

by Martha Groves Pugh, James A. Riedy and Kevin Spencer

In PPL Corporation v. Commissioner, the Supreme Court will likely set forth the test of how U.S. taxpayers should determine whether a foreign tax is creditable for U.S. income tax purposes.  This decision may have far-reaching ramifications for many U.S. taxpayers who routinely claim foreign tax credits.

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