26 U.S.C. § 33 — Tax withheld at source on nonresident aliens and foreign corporations

submitted 72 years ago by ch. 736 to r/title-26-INTERNAL-REVENUE-CODE · 39 words · no verdicts yet

in plain englishAI-generated · not legal advice

Nonresident aliens and foreign corporations get a tax credit equal to the amount of tax already withheld from their income at the source. This credit applies against the tax this subtitle imposes and comes from the withholding rules in subchapter A of chapter 3.

This section gives nonresident aliens and foreign corporations a credit against the tax imposed by this subtitle. The credit equals the amount of tax that was already withheld "at the source" — meaning taken out of their income before they received it — under the rules in subchapter A of chapter 3, which governs withholding tax on nonresident aliens and foreign corporations. In plain terms: if tax was already withheld on this income, that same amount is credited against what they owe.

the actual law source: uscode.house.gov ↗public domain

There shall be allowed as a credit against the tax imposed by this subtitle the amount of tax withheld at source under subchapter A of chapter 3 (relating to withholding of tax on nonresident aliens and on foreign corporations).

Source credit: (Aug. 16, 1954, ch. 736, 68A Stat. 13, § 32; renumbered § 33 and amended Pub. L. 98–369, div. A, title IV, §§ 471(c), 474(j), July 18, 1984, 98 Stat. 826, 832.)

history & why it existsrecord from the source credit

1954Enacted · Act of Aug. 16, 1954, ch. 736
1984Amended · Pub. L. 98-369 · 98 Stat. 826, 832

A history note hasn’t been published yet. The record shows enactment by ch. 736 on 1954-08-16.

all 0 arguments · sorted by: best

no arguments yet — make the first case