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Declaring Back Taxes Owed From Foreign Funds In Offshore Banks

2024.09.21 18:03

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Congress finally acted on New Year's Day, passing the "fiscal cliff" law. This law extended the existing tax rate structure for single taxpayers with taxable income of below USD 400,000, and married taxpayers with taxable income of less than USD 450,000. For which transfer pricing higher incomes, the top tax rate was increased to twenty.6% These limits are determined foreign earned income omission.

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You can more experience. Don't think you can file by April twenty? No problem. Get an 6 additional months by completing Form 4868 Automatic Extension of your energy to File for.

Someone making $80,000 yearly is not really making good of money. The fed's 'take' is considerably now. Income taxes originally started at 1% for extremely rich. And today the government is visiting tax you more.
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