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Version vom 30. August 2026, 11:36 Uhr
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A credit is allowed for foreign income taxes paid or accrued. The loan is limited to that part of U.S. tax due to foreign source income. It is far from refundable, but any excess credit become carried to other years to reduce tax.
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The more you earn, the higher is the tax rate on what we earn. In 2010-you have six tax brackets: 10%, 15%, 25%, 28%, 33%, and 35% - each assigned together with bracket of taxable income.
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