What Is the U

What is the U.S. policy concerning taxing income of a foreign branch of a U.S. corporation?

A) Tax is imposed on the foreign branch income in the year it is earned.
B) Tax is paid on the foreign branch's income when the profits are returned to the U.S. parent as dividends.
C) The government of the U.S. does not tax foreign source income.
D) Tax credits for losses incurred by the foreign branch are recognized by the parent currently, but taxes on profits are deferred until dividends are paid.