Just make sure you can arrange your affairs to stop funding them, which pretty much means dont live in a western country nor have a US passport.
Sometime in the next 20 years will be the crunch time
The news today, 1 megayacht per day will be delivered in the next 12 months
[QUOTE=PDCMATE;142050]Like I said before, it needs to be added into the total compensation on the W2, this amount would then be taxed as a whole, changing the tax deductions already paid. Its 100% legal as long as this money is accounted for in your income. If it is not, than you should not claim it.[/QUOTE]
What if the company is requiring you to pay what ever credit you get back to them? Would a receipt showing this help with the IRS?
The company that I work for has been requiring us to use the foreign credit and pay the amount we get back to them. And if we don’t file for the credit they will take the FULL amount they say they paid for us out of our pay. They even provide the accountant to do our taxes at no cost to us. We have thought this was wrong but hadn’t found any solid evidence to force the company to change it’s policy. Last thing I want is to get audited by the IRS and pay back the extra money I received that I didn’t even get to keep and penalties on top of that. I’ve even considered turning the company into the IRS but didn’t know if they were doing anything illegal.