US Tax payers must declare to the IRS all income received in Greece. However, Greece will require Greek income tax to be paid on Greek source income. Does the Greek-American tax payer have to suffer double taxation? No. IRS Section 901 (b) allows for a Foreign Tax Credit to be taken, to reduce US Tax liability.
By George Kounoupis of Hahalis & Kounoupis, P.C. - Greek Law Group on Wednesday, October 21, 2015.
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