26 U.S.C. § 891 : US Code - Section 891: Doubling of rates of tax on citizens and corporations of certain foreign countries

Search 26 U.S.C. § 891 : US Code - Section 891: Doubling of rates of tax on citizens and corporations of certain foreign countries

Whenever the President finds that, under the laws of any foreign
country, citizens or corporations of the United States are being
subjected to discriminatory or extraterritorial taxes, the
President shall so proclaim and the rates of tax imposed by
sections 1, 3, 11, 801, 831, 852, 871, and 881 shall, for the
taxable year during which such proclamation is made and for each
taxable year thereafter, be doubled in the case of each citizen and
corporation of such foreign country; but the tax at such doubled
rate shall be considered as imposed by such sections as the case
may be. In no case shall this section operate to increase the taxes
imposed by such sections (computed without regard to this section)
to an amount in excess of 80 percent of the taxable income of the
taxpayer (computed without regard to the deductions allowable under
section 151 and under part VIII of subchapter B). Whenever the
President finds that the laws of any foreign country with respect
to which the President has made a proclamation under the preceding
provisions of this section have been modified so that
discriminatory and extraterritorial taxes applicable to citizens
and corporations of the United States have been removed, he shall
so proclaim, and the provisions of this section providing for
doubled rates of tax shall not apply to any citizen or corporation
of such foreign country with respect to any taxable year beginning
after such proclamation is made.