foreign tax credits News

The U.S. Supreme Court on Monday rejected bids by three companies to recoup hundreds of millions of dollars in foreign tax credits denied by the Internal Revenue Service as the tax agency tries to curb corporate abuse of such credits. …

A U.S. appeals court on Wednesday rejected efforts by American International Group Inc. and Bank of New York Mellon Corp. to recoup hundreds of millions of dollars of foreign tax credits that the Internal Revenue Service did not allow. By …