Getting Associated With Tax Debts In Bankruptcy: Difference between revisions
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Revision as of 15:36, 27 September 2026
A credit is allowed for foreign income taxes paid or accrued. The money is limited to that part of U.S. tax due to foreign source income. It isn't refundable, but any excess credit may be carried to other years to reduce tax. The employer probably pays the waitress a very tiny wage, can be allowed under many minimum wage laws because this lady has a job that typically generates rules. The IRS might therefore debate that my tip is paid "for" the employer. But I am under no compulsion to leave the waitress anything.
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