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Foreign Tax Credit: Paid vs. Accrued Method Explained

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Foreign Tax Credit: Paid vs. Accrued Method Explained

When U.S. taxpayers earn income abroad, they may be required to pay foreign income taxes. To prevent double taxation, the U.S. offers a foreign tax credit (FTC) to offset U.S. taxes. Taxpayers must use either the paid or accrued method to claim this credit. Understanding the key differences helps with effective tax planning.

By Francheska Pimentel August 26, 2025

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