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Sen. Walter Sobchak

(8,692 posts)

22. Except we don't for the extreme majority of expats

Mon May 14, 2012, 02:47 AM

May 2012

[quote]If you are a U.S. citizen or a resident alien of the United States and you live abroad, you are taxed on your worldwide income. However, you may qualify to exclude from income up to an amount of your foreign earnings that is now adjusted for inflation ($91,400 for 2009, $91,500 for 2010, $92,900 for 2011, $95,100 for 2012). In addition, you can exclude or deduct certain foreign housing amounts.

You may also be entitled to exclude from income the value of meals and lodging provided to you by your employer. [/quote]

http://www.irs.gov/businesses/small/international/article/0,,id=97130,00.html

The problem with the crack down is the extreme majority of those being targeted are the children of American expats with few or no ties to the United States who wouldn't be taxable even if they knew they were obligated to file a return.

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More are renouncing U.S. citizenship as IRS cracks down [View all] Judi Lynn May 2012 OP

Traitorous, Treasonous Scum, Ma'am The Magistrate May 2012 #1

+77,734 Angry Dragon May 2012 #3

? (nt) harmonicon May 2012 #8

Even if they drop citizenship LadyHawkAZ May 2012 #2

Fuck no!! harmonicon May 2012 #9

Double Taxed.... happerbolic May 2012 #13

You're taxed in the country you earned the money in wickerwoman May 2012 #27

If you live a full year in a foreign country, the threshold income is about $92,000 Art_from_Ark May 2012 #78

Double Taxed... happerbolic May 2012 #13

Except we don't for the extreme majority of expats Sen. Walter Sobchak May 2012 #22

You're right about the children of US expats BlueMTexpat May 2012 #32

Where I am you can't leave the house without tripping over an "expert" Sen. Walter Sobchak May 2012 #54

I know that it won't apply to most, but I don't think that matters. harmonicon May 2012 #50

Yes and no.... 6502 May 2012 #29

Me too! :) eom BlueMTexpat May 2012 #33

You're advocating a citizenship tax, which I think is unjust. harmonicon May 2012 #51

Wouldn't it stand to reason maxrandb May 2012 #63

No, there's no citizenship tax. harmonicon May 2012 #65

So it's progressive taxation that you oppose? n/t maxrandb May 2012 #66

And when's the last time maxrandb May 2012 #67

The south, I don't know. harmonicon May 2012 #70

No, it's progressive taxation that I want. harmonicon May 2012 #69

Thank you. jwirr May 2012 #52

Sorry, but the great majority of US expats are not "doubly" taxed. BlueMTexpat May 2012 #31

You have explained it well. grantcart May 2012 #44

Tx, grantcart - you're one of my faves! eom BlueMTexpat May 2012 #59

Thanks. grantcart May 2012 #62

I don't think it's a "RW canard". harmonicon May 2012 #53

As an American citizen - wherever I live - I BlueMTexpat May 2012 #58

But paying taxes has no relationship to voting for those living in the US. harmonicon May 2012 #61

I don't want to keep them as citizens. sofa king May 2012 #42

That is total B.S. Doubly taxed...go learn the tax code, thats a total myth. Katashi_itto May 2012 #45

What other countries do this then, huh?! harmonicon May 2012 #55

You have failed to understand the intricacies of tax-law and rhetoric. Chan790 May 2012 #80

I'm honestly baffled by this response. harmonicon May 2012 #83

Canada and the UK, for starters Art_from_Ark May 2012 #81

Those are not related to taxing income earned in a foreign country. harmonicon May 2012 #82

Canadians and Brits living in foreign countries Art_from_Ark May 2012 #84

And you likely won't. harmonicon May 2012 #85

Germany will Tax your US income UCmeNdc May 2012 #89

France Entrepreneurs Flee From Hollande Wealth Rejection dkf May 2012 #4

Run To The Rock, the Rock Won't Hide You, As TheSong says, Ma'am The Magistrate May 2012 #6

Moving to Singapore seems to be a trend. dkf May 2012 #16

They Will Not Like It There For Long, Ma'am The Magistrate May 2012 #23

Why wouldn't people be happy among Asians? dkf May 2012 #26

The successful innovators at WHAT??? gadjitfreek May 2012 #30

At Smash And Grab, Sir: At Finding New Ways To Grab Money By Smashing Other Peoples Enterprises The Magistrate May 2012 #98

Are you so deluded that you think taxation = not wanted/appreciated? CreekDog May 2012 #73

Leave it to the financiers to take the money and run. suffragette May 2012 #68

sounds like their home is where their money is CreekDog May 2012 #72

But not all who renounce U.S. citizenship are tax dodging Lydia Leftcoast May 2012 #5

A friend has renounced her citizenship this year. PDJane May 2012 #7

You make an important distinction Lydia suffragette May 2012 #91

As someone who is an expat living overseas, I understand what is going on davidpdx May 2012 #10

The guy from FB was Brazilian to begin with. dkf May 2012 #17

Yes I know that davidpdx May 2012 #87

With shape the most foreign countries are in...good luck!! They will (expats) not escape "auterity" nanabugg May 2012 #75

Again you miss my point davidpdx May 2012 #86

Whatever, but they shouldn't be allowed to ever return and anything they owe the U.S. should lonestarnot May 2012 #11

Oh FFS. wickerwoman May 2012 #28

Check out the US tax code. BlueMTexpat May 2012 #34

I think they should give up US citizenship in that instance treestar May 2012 #93

That's fine. wickerwoman May 2012 #100

I really don't care about how you feel on this. If you are an American citizen and you owe taxes lonestarnot May 2012 #99

it doesn't work that way Spider Jerusalem May 2012 #103

K so America gets something. And they can't come back. lonestarnot May 2012 #107

And, no doubt, mostly good True Christian� Cancervatives. xfundy May 2012 #12

Pretty simple solution BluegrassDem May 2012 #14

That is how it works now. dkf May 2012 #18

A free person should not have to pay to give up citizenship. Maine23 May 2012 #20

There's already a renunciation fee 14thColony May 2012 #24

This Is All The More Reason DallasNE May 2012 #19

I'm sorry, this is real simple. OffWithTheirHeads May 2012 #21

+1 Blue_Tires May 2012 #102

Keep in mind not everyone in this situation got there the same way 14thColony May 2012 #25

It's really mostly a tempest in a teapot. BlueMTexpat May 2012 #35

Let's see. She lives abroad, pays taxes abroad, and gets HEALTH CARE. mainer May 2012 #47

If you're implying that I'm "diss-ing" anyone, BlueMTexpat May 2012 #57

Hard to an article seriously when it can't get the name of the agency it is reporting on right... Ms. Toad May 2012 #36

so that means that if shit goes down in their new home country SemperEadem May 2012 #37

But if shit goes down in the USA MattSh May 2012 #43

Do you really think the US embassy would protect them better than, say, the Uk embassy? mainer May 2012 #48

no, the question is : do I really care? SemperEadem May 2012 #97

Now we see who's NOT "Too Big To Fail." blkmusclmachine May 2012 #38

Extremely dumb of them. caseymoz May 2012 #39

Switzerland and Monaco, to name two, are full of rich tax exiles Spider Jerusalem May 2012 #104

Yes, and ultimately, the natives will get tired of them. caseymoz May 2012 #106

Leeches harun May 2012 #40

If I were younger tru May 2012 #41

Oh poor babies............ Smilo May 2012 #46

The "country that has given them everything"? mainer May 2012 #49

You are talking about the lesser mortals........... Smilo May 2012 #56

The comments above about exempt expat salary are correct... JCMach1 May 2012 #60

JC thanks for posting that davidpdx May 2012 #88

We've lost our "effing" minds maxrandb May 2012 #64

There is no America deutsey May 2012 #71

Buh bye! tabasco May 2012 #74

Traitors Yo_Mama_Been_Loggin May 2012 #76

What countries are they flocking to that welcome their $$ ? may3rd May 2012 #77

No, non citizens can't vote treestar May 2012 #94

This is proof that higher tax rates cause a drop in the amount of money collected. Maine23 May 2012 #79

Which "higher tax rates" are you talking about? jberryhill May 2012 #95

yes a drop of 1700 people who don't even live here. nt La Lioness Priyanka May 2012 #101

SO.... thats why the Bachmanns became Swiss citizens... Evasporque May 2012 #90

This is good treestar May 2012 #92

They hate responsibility more than they love their country. Courtesy Flush May 2012 #96

the almost Birchian response to this puzzles me CBGLuthier May 2012 #105

Can the US bear reciprocity ? picadilly May 2012 #108

The Expat Tax Is Law - The Door Is Now Closed! picadilly May 2012 #109