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1118 Form (Rev. December 2013) Department of the Treasury Internal Revenue Service Foreign Tax Credit? Corporations ? For calendar year 20 Information about Form 1118 and its separate instructions
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What is form 1118 rev december?
Form 1118 rev December is a U.S. tax form used by corporations to calculate and claim foreign tax credits against their U.S. federal income tax liability.
Who is required to file form 1118 rev december?
U.S. corporations that have paid or accrued foreign taxes on their foreign income and want to claim a foreign tax credit must file form 1118 rev December.
How to fill out form 1118 rev december?
To fill out form 1118 rev December, you need to provide detailed information about your foreign income, foreign taxes paid or accrued, and calculate your foreign tax credit limitation. The instructions provided with the form can guide you through the process.
What is the purpose of form 1118 rev december?
The purpose of form 1118 rev December is to allow U.S. corporations to claim foreign tax credits, which help to reduce their U.S. federal income tax liability on income earned from foreign sources.
What information must be reported on form 1118 rev december?
Form 1118 rev December requires you to report various information, including your foreign income, foreign taxes paid or accrued, and details about your foreign tax credit calculations.
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