One more week until Tax Day. Have you filed yours yet? I haven’t (probably should get on that, actually), considering the fact that I read in USA Today that roughly 47% of Americans won’t even have to worry about paying federal income taxes, I start to wonder if I would even bother. Oh sure, there’s the threat of prison time for tax evasion, but really, exactly what is the point if half the damn country isn’t going to up and get off scot-free?
Julie’s total exclusion is $94,079. American expat tax return she also gets to claim a personal exemption ($3,650) and standard deduction ($5,700). Thus, her taxable income is negative. She owes no U.S. tax.
Well, some taxpayers out and about might not view dependable kindly, thinking I am biased because I am probably asking from a tax practitioner point of view but now aim in an attempt to change to you of imagining.
(iii) Tax payers who’re professionals of excellence ought not be searched without there being compelling evidence and confirmation of substantial xnxx.
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