To amend the Internal Revenue Code of 1986 to treat certain payments made to the European Union in lieu of income taxes to a member of the European Union as income taxes paid to a foreign country for purposes of the foreign tax credit.
Last action on May 11, 2005Referred to the House Committee on Ways and Means.
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Summary
Amends the Internal Revenue Code to allow taxpayers who pay employment taxes to the European Union a foreign tax credit for such payments.
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