It's important if you made a selection in the past. If you chose 'Accrued' in the past you must continue to use that method.
- If you report on the cash basis, you can choose to take the credit for accrued taxes by checking the “Accrued” box in Part II on a timely filed original return. You can’t make this choice on an amended return. Once you choose to do this, you must credit foreign taxes in the year they accrue on all future returns.
- The date is dependent on whether you are using the paid date or the accrued date. Based on your statement, the payment is 2024, however they would have been accrued possibly earlier than that, so you must decide whether you are going to use accrued or paid.
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