Yeah, I get the exclusion because I havent been back in the States for more than week a year for the last 4 years. So as long as you arent in the US for more than 30 days a year, they cant tax you unless you make too much money.
Rumor has it that congress wants to get rid of this in the next 5 years (as the US highway system is $900B in debt, Social security is bankrupt, and public infrastructure spending has been negative since 1992) so they can keep spending. I have always been affraid that the "thresh-hold of non-tax payment would be dropped.
If there is a witch hunt, us citizens living outside the US will be the first to get it.
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| Oh yeh, I also wanted to say that I thought I would not meet the residency requirements to get the tax exclusion but the IRS rep said that I can file taxes starting from the date I arrived in CH...which for me was may. Since we are Americans abroad we automatically get an extension for filing which for me meant that I would then fulfill the residency requirements and so be able to claim tax exclusion. Turbotax helped me through this easily.
I was pretty concerned for a while that I was going to be financially ruined if I did not meet the residency requirements...because if I didn't well then I would be taxed doubly...which is what I wanted to avoid from the very start. | |
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