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U.S. Raises Taxes on Expatriates by $2 billion (over ten years)
The U.S. government has done it again - in a late night, backdoor deal, an agreement was put together to raise taxes on expatriates - by significantly altering the rules on deductions for housing costs, changes in the way taxes are calculated, and in a myriad of other complicated ways.
This increase starts with the 2006 tax year.
This has been significantly underreported by the mainstream media - and all U.S. citizens should immediately contact their representatives in congress and the U.S. President to voice their concerns.
There are some reports that a supplemental tax bill will come up in the next few weeks - offering an opportunity to rescind these changes. Please contact your representatives and voice your concerns.
Stories:
http://www.iht.com/a...
http://www.washingto...
Links to Representatives
http://www.whitehous... (comments/-a-t-/whitehouse.gov)
http://www.senate.go...
http://www.house.gov
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eaton0001 said
How will this impact Americans? ...How do you believe this will impact Americans? I see in the article that there will be more taxes on housing. This is of significant concern with US$7K per month housing costs for a villa. If we are taxed on such housing it would represent a $84K added revenue thus consuming the $80K tax exemption.
Jenni said
Has this tax bill passed? ...I do not understand the US Goernment always wanting more and more money! I am an US citizen and I DO NOT BELIEVE that the IRS should be allowed to tax expatriates that are not living and working in America that is so absurd!
Is this tax ruling finalized and passe into a law? How much taxes is Americans supposed to pay the US Government living in Qatar now, with a housing allowance and everything else?
Jenni