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History Of Your Federal Income Tax: Difference between revisions

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Revision as of 16:26, 13 May 2026

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Through the proposed DTC / GST legislations, federal government has acknowledged the necessity of new revenue system but the proposed new laws apparently appear to be even complex then existing one.

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For my wife, she was paid $54,187, which she isn't taxed on for Social Security or Healthcare. This lady has to put 14.82% towards her pension by law, making her federal taxable earnings $46,157.

Julie's total exclusion is $94,079. To be with her American expat tax return she also gets to claim a personal exemption ($3,650) and standard deduction ($5,700). Thus, her taxable income is negative. She owes no U.S. in taxes.

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The second way would be to be overseas any 330 days in each full twelve month period in a foreign country. These periods can overlap in case of an incomplete year. In this case the filing deadline day follows the completion of each full year abroad.

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