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Date: Thu, 8 May 2003 22:59:28 -0500
X-Mailer: vmh for vim (v0.2) http://www.fleiner.com/vmh/
According to this article some Republican Senators propose to eliminate the
$80000 tax credit for US Citizen living abroad.
Quote: "Americans working overseas would be hit the hardest: the bill would no
longer allow them to exclude $80,000 in income from federal taxes. That
provision alone would amount to a $32 billion tax increase."
http://www.washingtonpost.com/wp-dyn/articles/A32536-2003May8.html
Claudio
P.S.: in case you did not know: if you are a US Citizen and live abroad you
have to pay US federal taxes anyway. You can (at least currently) deduct $80000
and there is a treaty to eliminate double taxation between CH and the US but
due to the different tax laws (in particular with respect to the capital gains
tax in the US and tax on net worth in CH) it does not always work and you may
end up paying taxes twice.
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Claudio Fleiner claudio_at_fleiner.com
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Received on Thu May 08 2003 - 23:10:20 PDT
