The following is very important for all AMERICANS who live and work overseas. You are about to lose your USD80,000 tax exemption on your income earned here in Taiwan unless you act now.
The latest news
“The bill would repeal the law that let American workers overseas exempt $80,000 of their income from taxation. An effort to delete this provision was rejected, 51 to 49, but senators said there was an understanding it would be knocked out of the bill in the conference committee.”
If you need any of the documents mentioned in the AM Cham message below please send me a PM and I will forward to you.
[quote]Dear AmCham Member,
As you may have already heard, the U.S. Senate
Finance Committee recently approved a tax bill
that includes a provision eliminating the US$80,000
exclusion on foreign earned income and housing
expenses. If this bill becomes law, it may result in a
significant increase in your personal tax liability.
It is urgent that you make your objection to this action
heard now, as the full Senate is expected to begin
discussing the bill within the next 48 hours. I therefore
encourage you to write to your Senators and Congress-
persons immediately on this important issue. (Congress
should be included because, should the full Senate
approve the bill as written, it will be considered by a
joint House/Senate committee.)
To facilitate your actions, please find the following
A basic letter addressed to both a Senator and a
House member explaining the reasons the overseas
exclusion should not be repealed. Please feel free to
modify (and shorten as appropriate) this letter.
An Excel file with the fax numbers for all the
Senators and Members of Congress.
A one-page memo from the U.S. Chamber with
Section 911 “talking points” for your information.
A shorter “target list” of key Senators and
Congresspersons because they are important
and should know better than vote for this bill.
Please note that AmCham Taipei is working closely
with APCAC (the Asia-Pacific Council of American
Chambers) on this issue and also with the U.S.
Chamber of Commerce in Washington.
Your fax (not letter–it will not be in time) or email
Please take a few minutes, download the information
you need, and send off communications ASAP.
We are talking about a real tax problem that could
have financial impact on you and your family.
If you have any questions, please contact me by
email. Thanks. [/quote]