Internal Revenue Service
Revenue Ruling

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 Rev. Rul. 55-16

1955-1 C.B. 386

Sec. 901

Full Text

Rev. Rul. 55-16

The United Kingdom satisfies the similar credit requirement of section 131(a)(3) of the Internal Revenue Code of 1939 with respect to taxes paid or accrued during the taxable year to the United Kingdom. Accordingly, a British national residing in the United States is entitled to a credit against his United States income tax, subject to the limitations provided in section 131(b) of the Code, for income taxes paid to the United Kingdom provided he does not elect to use the optional standard deduction in computing his United States tax liability