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Version vom 22. Oktober 2024, 11:25 Uhr
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U.S. citizens are expected to shell out taxes on all incomes made in foreign arrives. The proceeds are to be included his or her income taxes and the required taxes will be paid. However, for incomes that are taxed on the foreign countries, taxpayers should include a tax credit equivalent for the taxes paid but towards the limit for the taxes that would have been paid in case the taxable income was developed domestically. For citizens that reside abroad, the IRS provides a tax free waiver for the first $92,900 earned this year.
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