Title 26 — Internal Revenue CodeRelease 119-73
§841 Credit for foreign taxes
Title 26 › Subtitle Subtitle A— - Income Taxes › Chapter CHAPTER 1— - NORMAL TAXES AND SURTAXES › Subchapter Subchapter L— - Insurance Companies › Part PART III— - PROVISIONS OF GENERAL APPLICATION › § 841
Summary
Insurance companies taxed under sections 801 or 831 can use taxes they pay to foreign countries or U.S. possessions as a credit against their U.S. tax, the same way domestic corporations do under section 901. When applying the limits in section 904 (and for section 906 as to foreign corporations subject to tax under this subchapter), "taxable income" means the amount in section 801(b) for 801 taxpayers and the amount in section 832(a) for 831 taxpayers.
Full Legal Text
Title 26, §841
Internal Revenue Code — Source: USLM XML via OLRC
The taxes imposed by foreign countries or possessions of the United States shall be allowed as a credit against the tax of a domestic insurance company subject to the tax imposed by section 801 or 831, to the extent provided in the case of a domestic corporation in section 901 (relating to foreign tax credit). For purposes of the preceding sentence (and for purposes of applying section 906 with respect to a foreign corporation subject to tax under this subchapter), the term “taxable income” as used in section 904 means—
(1)in the case of the tax imposed by section 801, the life insurance company taxable income (as defined in section 801(b)), and
(2)in the case of the tax imposed by section 831, the taxable income (as defined in section 832(a)).
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Amendments
1986—Pub. L. 99–514 substituted “section 801 or 831” for “section 801, 821, or 831” in introductory provisions, redesignated par. (3) as (2), and struck out former par. (2) which read as follows: “in the case of the tax imposed by section 821(a), the mutual insurance company taxable income (as defined in section 821(b)); and in the case of the tax imposed by section 821(c), the taxable investment income (as defined in section 822(a)), and”. 1984—Pub. L. 98–369 substituted “section 801” for “section 802”, wherever appearing, and “section 801(b)” for “section 802(b)”. 1966—Pub. L. 89–809 substituted “For purposes of the preceding sentence (and for purposes of applying section 906 with respect to a foreign corporation subject to tax under this subchapter), the term ‘taxable income’ as used in section 904” for “For purposes of the preceding sentence, the term ‘taxable income’ as used in section 904”. 1962—Pub. L. 87–834 added par. (2) and redesignated former par. (2) as (3). 1959—Pub. L. 86–69 struck out reference to section 811 of this title in first sentence, and substituted “section 802, the life insurance company taxable income (as defined in section 802(b)), and” for “section 802 or 811, the net investment income (as defined in section 803(c))” in par. (1). 1956—Act Mar. 13, 1956, inserted references to section 811.
Statutory Notes and Related Subsidiaries
Effective Date
of 1986 AmendmentAmendment by Pub. L. 99–514 applicable to taxable years beginning after Dec. 31, 1986, see section 1024(e) of Pub. L. 99–514, set out as a note under section 831 of this title.
Effective Date
of 1984 AmendmentAmendment by Pub. L. 98–369 applicable to taxable years beginning after Dec. 31, 1983, see section 215 of Pub. L. 98–369, set out as an
Effective Date
note under section 801 of this title.
Effective Date
of 1966 AmendmentAmendment by Pub. L. 89–809 applicable with respect to taxable years beginning after Dec. 31, 1966, see section 104(n) of Pub. L. 89–809, set out as a note under section 11 of this title.
Effective Date
of 1962 AmendmentAmendment by Pub. L. 87–834 applicable with respect to taxable years beginning after Dec. 31, 1962, see section 8(h) of Pub. L. 87–834, set out as a note under section 501 of this title.
Effective Date
of 1959 AmendmentAmendment by Pub. L. 86–69 applicable only with respect to taxable years beginning after Dec. 31, 1957, see section 4 of Pub. L. 86–69, set out as a note under section 381 of this title.
Effective Date
of 1956 AmendmentAmendment by act Mar. 13, 1956, applicable only to taxable years beginning after Dec. 31, 1954, see section 6 of act Mar. 13, 1956, set out as a note under section 316 of this title.
Reference
Citations & Metadata
Citation
26 U.S.C. § 841
Title 26 — Internal Revenue Code
Last Updated
Apr 6, 2026
Release point: 119-73