U.S. Income Tax Obligation while Living Abroad

As a U.S. expatriate residing abroad, you have a legal obligation to file U.S. tax returns each year on your worldwide income.

in numbers: (only as an example)


Married filing jointly      up to $14,300         10% Tax Rate
           $14,301-$58,100     15% Tax Rate



American expats angry over US tax
Members of an American expatriate group in Geneva are angry about the newly “initialed” by the US government, fearing the far-reaching, 'grim' consequences would have on overseas US citizens’ taxes, pensions and social security benefits.
Washington and Bern, agreed late last week to “administrative assistance” in tax matters and have initialed a double taxation agreement (DTA).
The move was a result of pressure put on Switzerland..... bilateral tax agreements before the end of this year.
such an agreement could have dire consequences for an estimated 20,000 US citizens living in Switzerland.
“It looks very likely that things could become much more grim and ugly for overseas Americans in the weeks and months to come,".
“For long-term American citizens in Switzerland, whose contributions to and payments from AVS and private Swiss pension plans are subject to taxation in both countries, this poses a serious problem,”.
Now the US expat community, which mostly supported Barack Obama during his bid for presidency in 2008, feels let down by the new administration.
“He had made several promises to overseas Americans during his campaign last year, and we believed him,”
“All of that fine talk is going nowhere right now,”
The Swiss government said in a statement that the initialed text is still confidential and “will only be published after being signed at ministerial level.”
But, as with many legislative decisions in Switzerland, the agreement could become the subject of a referendum, if 50,000 signatures are collected.

Now that we are soon to pay for the US government spending frenzy…. I am going
to have an opinion…. I am going to voice my opinion…. until now we have been
exempt from paying, and had no right to voice my opinion, I don’t pay, I can not
complain….
but now……. I am going to be all over!!!…… If the representatives would like to
spend money…..  on what ever dream ideas, let them justify it... not as ideology but as a necessity…. and provide a better way to fulfil that dream….. but to buy the way with
money they don’t have….. and seek money from outside the USA…. and it is not tax fraud money…. I worked for it in Switzerland – not in the USA, and declared it in the country I work and live…..
I am very disappointed….. to ask me to pay for a colossal system that provides benefits to questionable, doubtful beneficiaries......  
I work so other can collect...... something is wrong...... some thing is very wrong!
I am not going to be political per se.... but I will target any questionable legislation….. from my point
where I  am...... no way I will pay for colossal ideas with no clear and transparent explanation, other then politically motivated and ideologically justified dream plans.....


Michael

Michael,

Isn't it great how the expats are so supportive of Obama until it hits them in the pocket book?

If you will recall, I predicted this before the election.

All those programs sound so great, so compassionate, so much better than leaving it up to personal responsibility.  That is, until you have to pay for it.  Then it's not so cool.

You might say I am comparing apples to oranges... your money is different because you earned it over there.  I submit it is no different than Obama coming after money I earned here that they have no right to seize. 

Americans need to wake up before they are cooked.

-Shawn

wildhaus wrote on Jul 18^th, 2009 at 2:37am:


I wish more people would see it this way!

Michael,
There are loads of Ex pats from the UK and isn't it surprising they have the annual ex pat ball, ex pat sing along competition,guess the tax avoid er,want my say but immigrated to get away.
Lets sit on the fence and complain if it comes my way competition
The injustice of it all.
If you want the rights and security that a country gives, don't complain if you don't live there, because there's plenty that do
Pass me that martini.
Not another tax return

Every system has its advantages, every system has its flaws.....
and every system has to be monitored and corrected or adjusted
with the time, demand and needs of society.......

Our social system in Switzerland is not with out flaws..... one
might say big flows (regardless of political point of view).....
be it the AHV (the equivalent to social security – SS) or the IV
(Invalidenversicherung ) (the equivalent to Disability Insurance)
running rapidly out of money.....  the AHV for natural reasons – ageing,
the IV due to (seems like) abuse and lack of proper control...... an more,
our health Insurance, as good as it might be, suffers from ever growing
costs, that seem to spin out of control…
I am not going to list all the social “masterpieces” and the advantages or
flaws….. but any modern democratic society needs the social systems, we
like it or not…..
but this social systems should not turn into a free ride systems….. supported
by the system it self….. on the cost of the general population….. or guided by
political and ideological point of view…..
Michael

Charlie wrote on Jul 21^st, 2009 at 5:11pm:


What a crock... unfettered?  Seriously?  You keep spouting this as if it were fact but I know you are not an idiot Charlie.  Congress forced banks to issue loans they knew would not ever be paid.  How in the world is that 'unfettered'?

-Shawn

edited to add:  The banks that paid back their loans paid them back with interest.  The people made money ($10B) on that one until Barney Frank decided that wasn't actually the people's money.

Charlie, you blame free markets but free markets do not exist.  It is a drum beat by the democrats to push through more socialist programs in every sector.

Capitalism is evil.
Free markets are evil.
Profit is evil.
Rich people are evil.

Repeat as necessary until there is no more capitalism, no more free markets, no more rich people and no more profit.

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Nothing in my playbook, Shawn. Rich is good.

Charlie, you only went as far back as Regan.  Why am I not surprised, LOL.

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There ya go.....

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And I have been since October of 2008.

Sucks

Charlie