Re:Global minimum corporate tax: 130 nations to support U.S....
by heavyset_go on Thursday July 01, 2021 @06:34PM
(#27705712)
> they pay the maximum of the US income taxes and the residence country income taxes.
The IRS collects on income over $108k/year, and income over that amount is taxed at that bracket and higher. Foreign Tax Credit also prevents double dipping by the IRS.
The IRS collects on income over $108k/year, and income over that amount is taxed at that bracket and higher. Foreign Tax Credit also prevents double dipping by the IRS.