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Revision as of 19:28, 25 February 2025
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U.S. citizens are expected to shell out taxes on all incomes made in foreign lands. The proceeds are to be included of income taxation statements and the required taxes can be paid. However, for incomes that are taxed the actual planet foreign countries, taxpayers can include a tax credit equivalent for the taxes paid but into the limit for this taxes which may be have been paid if the taxable income is made domestically. For citizens that reside abroad, the IRS provides a tax free waiver for that first $92,900 earned this year.
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