Tax Credit Limitations

Tax Credit Limitations Please respond to the following: Based on the e-Activity, research the limits on foreign tax credits. Based on your research, propose how you would categorize tax credits for reporting purposes to IRS. Propose how you would defend a client against an IRS audit of tax credits that were incorrectly categorized.
discussion 2:Policy Considerations" Please respond to the following: Congress has appointed you to head a committee to address the complexity of foreign tax credit limitation rules that currently exist. Make recommendations to simplify the rules. Support your recommendations with examples. Based on your recommendations from above, predict the impact your recommendations would have on U.S. Treasury tax collections. Support your prediction(s) with examples.

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