Bad News from Uncle Sam

Roy

[b]Uncle Sam takes a bite out of expatriate incomes [/b]By Sharon Reier International Herald TribuneFRIDAY, MAY 26, 2006 [url="http://www.iht.com/articles/2006/05/26/news/ataxes.php"]http://www.iht.com/articles/2006/05/26/news/ataxes.php[/url]If the link doesn't work, I'll post the entire article. Sneeky Congress! They "slid" this in almost unnoticed and in the last moments of the recent tax break bill. :evil:

grastaman

most people dont realize that Americans are one of the few countries that pay taxes on global income. esp annoying is the "stacking provision" noted in the article. guess my tax form might exceed 30 pages this year.

dug

Hi Roy, could you print that article? I cannot seem to get that link(EMPTY TEXT). I'm interested to find out what our govnt has done under the radar!!

Roy

OK, I hope Bert doesn't mind as it is rather long. Anyway, here it is:Uncle Sam takes a bite out of expatriate incomes By Sharon Reier International Herald TribuneFRIDAY, MAY 26, 2006 It may have been sold as a tax cut package, but the document thatPresident George W. Bush signed into law on May 17 will mean an extratax bite for many Americans who live abroad. Those expected to feel the most pain are expatriate workers who earncomfortable, but not lavish, livings and semi- retired workers earningsome foreign income while drawing U.S. Social Security, pensions andother income from U.S. sources. Many of these expatriates will be pushedinto higher U.S. brackets, as will employees and independentprofessionals in no-tax and low-tax areas like much of the Middle East,some Caribbean nations and Hong Kong.for full article look here:[url="http://www.iht.com/articles/2006/05/26/news/ataxes.php"]http://www.iht.com/articles/2006/05/26/news/ataxes.php[/url]

dug

Thanks Roy and Bert Well seems that investment income is at ordinary rates. Will print and look into further....... Thanks your attention to this matter.

Roy

Thanks Bert, that link works fine. Saya Mengerti re the copyright issue.