Quote:
Originally Posted by Ethersync
It's not quite how you describe it. If you reside overseas you are not taxed on your first $80,000 of income. If you make more than $80,000 while overseas it becomes a bit more complex. You do still have to file tax returns each year, but I believe you are automatically given til October 15th to file for the previous year.
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I think what he was saying is the same.
Though you have to file for that status and be earning FOREIGN INCOME. That is the trick. You can't just simply live abroad and get the tax break.
Though if you earn more than that allowed amount, I think is 82k now, you will be taxed on income above that, and you get the break on the first 82k. But you do have to file in that manner, live and earn foreign income for almost a year to qualify. It's not just a given.