The IRS issued a revised version of Form 1118 Foreign Tax Credit – Corporations and instructions for utilizing same. This form is used to compute a corporation’s foreign tax credit for certain taxes paid or accrued by foreign countries or U.S. territories, and has undergone extensive changes as a result of the Tax Cuts and Jobs Act, which changed the computation of foreign tax credits for post-2017 fiscal years.
Form 1118 continues to require reporting under both pre and post-enactment provisions.
If you have plans to internationalize your investments, develop business, and begin your expatriation process, it is important to have a team of lawyers with proven experience, acting in several jurisdictions and accredited by their respective governments. Our highly specialized professionals possess the technical skills required to evaluate the best alternatives and meet your needs and expectations.
To know which immigration option best suits your profile and that of your family, in addition to knowing more about the many possible alternatives for your projects to develop successfully, talk to one of our expert attorneys. Schedule a consultation with HAYMAN-WOODWARD PLLC now.
Our attorneys will assist you in all the details of your expatriation, at all stages, including business development in the United States. For our law firm, each case is unique and is treated as such, with personalized and individualized solutions.
HAYMAN-WOODWARD PLLC is a Washington (D.C) based law firm, specializing in immigration and federal tax laws. All legal services are provided by duly-licensed attorneys in each jurisdiction.