Foreign-source income

(redirected from Foreign Source Income)

Foreign-source income

Income earned from international operations.

Foreign-Source Income

Personal income earned outside the United States. Unlike many other countries, foreign-source income is taxable in the United States.
References in periodicals archive ?
As discussed, inverting companies can lower their tax liability on foreign source income, tap into foreign offshore cash, and lower their U.
Additionally, a number of states have recently adopted "tax haven" legislation that allows for the inclusion in the state-taxable base of foreign source income earned by non-U.
The foreign source income should be converted into Indian currency at the rate of exchange mentioned in the tax rules.
A UK resident but non-domiciled individual can, for example, choose to pay tax on his or her foreign source income and gains only when they are brought into or "remitted" to the UK.
The risk of a Streamlined Procedures filing is greater than filing an OVDP, as taxpayers are required to certify under penalty of perjury that their failure to file FBARs and report foreign source income was due to non-willful conduct.
citizens, resident aliens, bona fide residents of Puerto Rico for the entire tax year, domestic corporations, and nonresident aliens and foreign corporations (with respect to foreign taxes paid or accrued on foreign source income effectively connected with the conduct of a U.
amount of foreign income taxes paid on foreign source income.
It reported this income, however, as foreign source income.
The Discussion Draft would drop that tax rate to 25 percent and move to a form of territorial tax system where most foreign source income would be taxed at a 1.
source income into foreign source income, it is somewhat surprising that the IRS issued a positive ruling in this regard to begin with.
only taxes foreign source income at the time of repatriation to the U.
After a general description of the US income tax system, they present chapters on jurisdictional principles, source rules, income taxation of nonresident aliens and foreign corporations, taxation of foreign source income of US persons, treatment of foreign business operations and investments by US persons, transfer pricing, special treatment of foreign income, and foreign currency issues.

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