TITLE 26. INTERNAL REVENUE CODE § 901. Taxes of foreign countries and of possessions of United States., 26 USCS § 901
Summary
(a) Allowance of credit. If the taxpayer chooses to have the benefits of this subpart [26 USCS §§ 901 et seq.], the tax imposed by this chapter [26 USCS §§ 1 et seq.] shall, subject to the limitation of section 904 [26 USCS § 904], be credited with the amounts provided in the applicable paragraph of subsection (b) plus, in the case of a corporation, the taxes deemed to have been paid under section 960 [26 USCS § 960]. Such choice for any taxable year may be made or changed at any time before the expiration of the period prescribed for making a claim for credit or refund of the tax imposed by this chapter [26 USCS §§ 1 et seq.] for such taxable year. The credit shall not be allowed against any tax treated as a tax not imposed by this chapter [26 USCS §§ 1 et seq.] under section 26(b) [26 USCS § 26(b)].