Americans Living Abroad Get a Nasty Tax Surprise

Discussion Open Forum
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Here’s a scary story for you!

[quote]Americans Living Abroad Get a Nasty Tax Surprise

*Please Note: Archive articles do not include photos, charts or graphics. More information.
May 30, 2006, Tuesday
By KEITH BRADSHER AND DAVID CAY JOHNSTON; KEITH BRADSHER REPORTED FOR THIS ARTICLE FROM HONG KONG AND DAVID CAY JOHNSTON FROM ROCHESTER. (NYT); Business/Financial Desk
Late Edition - Final, Section C, Page 3, Column 1, 1203 words

DISPLAYING FIRST 50 OF 1203 WORDS -In an effort to raise revenues, tax writers in Congress added a last-minute provision that retroactively increased taxes for Americans living abroad. But the sudden imposition of new taxes has surprised overseas taxpayers, and it has employers concerned about the added cost. The increase for Americans abroad was added…[/quote]
libertypost.org/cgi-bin/read … Num=143813

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“Americans living overseas say the provision wrongly focuses on allowances that their employers pay to cover higher costs — like housing, schools and trips home — that they incur by taking a job abroad. The law changes the way taxes are calculated on subsidies like housing allowances…”

nothing to do with basic income or the $80K exemption. big issue for high-powered expat types but if you read past the first 30 words probably not very scary for many of the mass of us here.