United States: Foreign Tax Credit Considerations After Notice 2023-55 - Steptoe & Johnson

ROPE has been fighting 'school choice' educational tax credits as long as the powers that be in Oklahoma have been trying to push them (over a decade). Unfortunately, last year's legislature seemed unclear the difference between a tax CREDIT and a voucher and bought the 'voucher disguised as a tax credit' scheme, hook, line and sinker. Now, rumor has it, that the people pushing the tax credit lie have been the sameones at the Oklahoma Tax Commission writing the rules for the tax credit. That seemed odd to us, so more investigation was required. We'll go through the research we have so that everyone can be informed enough to tell the tax credit the rules won't work because the public was sold a bill of goods!