To: GIdget2004
The federal government claims that it can tax individuals who earn their income outside the country. What is the difference?
2 posted on
05/18/2015 8:13:40 AM PDT by
Blood of Tyrants
(A free society canÂ’t let the parameters of its speech be set by murderous extremists.)
To: Blood of Tyrants
The US is the only country in the world to tax it’s non-resident citizens.
7 posted on
05/18/2015 8:17:17 AM PDT by
Cowboy Bob
(Isn't it funny that Socialists never want to share their own money?)
To: Blood of Tyrants
The difference is that the IRS will allow a credit against you US tax liability for tax paid on income in the second country. Maryland was not allowing a similar credit.
9 posted on
05/18/2015 8:18:41 AM PDT by
Milton Miteybad
(I am Jim Thompson. {Really.})
To: Blood of Tyrants
The difference is IF you earned less than $50K for the year and the foreign bank where your money is located is NOT registered with FATCA. If not, Uncle Sam needs thicker glasses to look for it..
11 posted on
05/18/2015 8:20:23 AM PDT by
max americana
(fired liberals in our company last election, and I laughed while they cried (true story))
To: Blood of Tyrants
What is the difference? Foreign Tax Credit. Nor, unlike this instance, in which I think the court found rightly on the constitutionality, do I see any constitutional impediment to the very bad policy of the Feds fully taxing income from abroad without any credit for foreign taxes paid.
16 posted on
05/18/2015 8:24:02 AM PDT by
The_Reader_David
(And when they behead your own people in the wars which are to come, then you will know...)
To: Blood of Tyrants
“The federal government claims that it can tax individuals who earn their income outside the country. What is the difference?”
You get a dollar-for-dollar credit for taxes from the other country.
34 posted on
05/18/2015 8:57:40 AM PDT by
Jewbacca
(The residents of Iroquois territory may not determine whether Jews may live in Jerusalem)
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson