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INDIVIDUAL INCOME TAX 1047 Tax Lawyer, Vol. 54, No. 4 INDIVIDUAL INCOME TAX SUBMITTED BY THE COMMITTEE ON INDIVIDUAL INCOME TAXPAYERS: EVELYN BRODY, COMMITTEE CHAIR; GAIL LEVIN RICHMOND, SUBCOMMITTEE CHAIR ON IMPORTANT DEVELOPMENTS* Legislation Nondeductible Taxes Section 4(2) of the FSC Repeal and Extraterritorial Income Exclusion Act of 2000, Pub. L. No. 106-519, 114 Stat. 2423, added section 275(a)(4)(C) to deny a deduction for income, war profits, and excess profits taxes imposed by a foreign...