26Title 26The US tax code, read & explained

26 U.S.C. § 841

§ 841. Credit for foreign taxes

138 words · amended 5 times

Compare on Cornell LII Official XML (House)

No plain-English explainer yet. Below is the official text. Explainers are being added section by section.

History

Part of the code since 1954. Last changed October 22, 1986 by the Tax Reform Act of 1986.

Every change, newest first (7)
  1. October 22, 1986Tax Reform Act of 1986
  2. July 18, 1984Deficit Reduction Act of 1984
  3. November 13, 1966Public Law 89-809
  4. October 16, 1962Public Law 87-834
  5. June 25, 1959Public Law 86-69
  6. March 13, 1956Internal Revenue Code of 1954 (original text)
  7. August 16, 1954Internal Revenue Code of 1954 (original text)

The law as written

Current through Public Law 119-102. Amendment notes omitted.

The taxes imposed by foreign countries or possessions of the United States shall be allowed as a credit against the tax of a domestic insurance company subject to the tax imposed by section 801 or 831, to the extent provided in the case of a domestic corporation in section 901 (relating to foreign tax credit). For purposes of the preceding sentence (and for purposes of applying section 906 with respect to a foreign corporation subject to tax under this subchapter), the term “taxable income” as used in section 904 means—

(1)

in the case of the tax imposed by section 801, the life insurance company taxable income (as defined in section 801(b)), and

(2)

in the case of the tax imposed by section 831, the taxable income (as defined in section 832(a)).