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Revision as of 19:42, 11 November 2024
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Conversely, earned income abroad, and residual income from foreign securities, rental, or other considerations abroad, could be excluded from U.S. taxable income, or foreign taxes paid thereon, can be as credits against U.S. taxes due.
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In addition, Merck, another pharmaceutical company, agreed to spend the IRS $2.3 billion o settle allegations of xnxx. It purportedly shifted profits just offshore. In that case, Merck transferred ownership of just two drugs (Zocor and Mevacor) along with shell it formed in Bermuda.
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