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CP40615 Mandatory 116 2016-2024

116 2016-2024 Form

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Today's video we're going to discuss the foreign tax credit also referred to as formal 1116 if you're a US taxpayer lived abroad and Paul US income taxes in this video will help you to prepare the form correctly and save you a lot of money by optimizing taxes hi I'm Patrick Evans founder of US tax practice I'm an u.s. certified public accountant based on switch one servicing US taxpayers here and in the rest of Europe, and I'm in the business of helping fellow US taxpayers today we're going to discuss the foreign tax credit also referred to as form 1116 the foreign tax credit is one of the main ways a US expat can reduce or completely eliminate their US tax burden however the form is relatively long and there are some complex calculations that need to be made and make sure you pay attention while I walk you through the form based on the IRS recommendations this form will take around five hours to prepare but after watching this video you should be able to prepare it much quicker and mu

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