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Category: Indian CPA

What Foreign Taxes Qualify For The Foreign Tax Credit?

Generally, the following four tests must be met for any foreign tax to qualify for the credit: 1.     The tax must be imposed on you 2.     You must have paid or accrued the tax 3.     The tax must be the legal and actual foreign tax liability 4.     The tax must be an income tax (or a tax in lieu of an income tax) Tax Must Be Imposed on You You can claim a credit only for foreign taxes that […]

How to Change Your Address ?

If your address has changed, you need to notify the IRS to ensure you receive any IRS refunds or correspondence. There are several ways to notify the IRS of an address change. If you change your address before filing your return, write the new address in the appropriate boxes on your return when you file. When your return is processed, we will update your records. If you change your address after filing your return, you […]