Identify Which of the Following Statements Is True

Multiple Choice

Identify which of the following statements is true.

A) Nonresident aliens and foreign corporations are not subject to U.S. taxation on their non- U.S. source investment income and part or all of their non- U.S. source trade or business income.
B) In a particular year, the overall foreign tax credit limitation permits a taxpayer to offset "excess" foreign taxes paid in one country against "excess" limitation amounts originating in other countries.
C) U.S. citizens, resident aliens, and domestic corporations are taxed by the U.S. government on their worldwide income at regular U.S. tax rates.
D) All of the above are true.