The issues with the FTC are when a taxpayer has too many credits that are carried over year after year which is generally bad because “credits are being wasted”.

Any research topic related to the Foreign Tax Credit(FTC).The FTC is a mechanical calculation. The issues with the FTC are when a taxpayer has too many credits that are carried over year after year which is generally bad because “credits are being wasted”. Likewise if a client has no credits then they are paying the highest rate of tax (the US rate) at 35%. Some FTC papers concentrate on ideas of how to utilize excess credits. In other words, what can a taxpayer do to increase (legitimately) the utilization of the FTC so all or a majority are used and not “wasted” each year. A credit unused is a wasting asset.

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