The foreign earned income tax exclusion for individuals : analyses and alternatives /

The foreign earned income tax exclusion for individuals : analyses and alternatives /

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Bibliographic Details
Imprint:New York : Nova Publishers, [2014]
©2014
Description:1 online resource.
Language:English
Series:Government procedures and operations
Government procedures and operations.
Subject:
Income tax -- United States -- Foreign income.
Income tax -- Foreign income.
United States.
Electronic books.
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/11236185
Hidden Bibliographic Details
Other authors / contributors:Milburn, Molly, editor.
ISBN:9781633219939
1633219933
1633219747
9781633219748
Notes:Title from PDF title page (viewed on Sept. 26, 2014).
Includes index.
Summary:For tax year 2011 (the most recent data available), an estimated 445,000 tax returns claimed the foreign earned income exclusion (FEIE), which is 0.3 percent of all individual tax returns filed. Taxpayers were able to exclude from taxable income about 30 billion in foreign earned income and housing costs, with about 45 percent excluding all or most of their foreign earned income. The FEIE reduces the tax liability of U.S. taxpayers working abroad even if they paid no foreign income taxes to another country. U.S. taxpayers in higher tax countries can eliminate their U.S. tax liability using the.
Other form:Print version: Foreign earned income tax exclusion for individuals. 1633219747 9781633219748
Table of Contents:
  • THE FOREIGN EARNED INCOME TAX EXCLUSION FOR INDIVIDUALS: ANALYSES AND ALTERNATIVES; THE FOREIGN EARNED INCOME TAX EXCLUSION FOR INDIVIDUALS: ANALYSES AND ALTERNATIVES; Library of Congress Cataloging-in-Publication Data; CONTENTS; PREFACE; Chapter 1: TAX POLICY: ECONOMIC BENEFITS OFINCOME EXCLUSION FOR U.S. CITIZENS WORKING ABROAD ARE UNCERTAIN; WHY GAO DID THIS STUDY; WHAT GAO RECOMMENDS; WHAT GAO FOUND; ABBREVIATIONS; BACKGROUND.
  • Relatively few individual taxpayers claimed the foreign earned income exclusion, and claiming it is more beneficial than the foreign tax credit for those in lower tax countriesu.s. tax costs could influence someu.s. overseas employment decisions, though there is little evidence the tax expenditure affects exports; the tax expenditure's net effects on economic efficiency and equity are uncertain; some alternatives could better target benefits but would add complexity; concluding observations; agency comments and our methodology; appendix i. objectives, scope, and methodology.
  • APPENDIX II. PROVISIONS THAT INTERACT WITH SECTION 911APPENDIX III. COMPARISON OF TAX COSTS OF U.S. AND NON-U.S. WORKERS UNDER THE FOREIGN EARNED INCOME EXCLUSION IN DIFFERENT HYPOTHETICAL HOST COUNTRIES AND AT DIFFERENT INCOME LEVELS; APPENDIX IV. ASSESSMENT OF THE CURRENT TAX EXPENDITURE AND FOUR ALTERNATIVES; Chapter 2: INDIVIDUAL FOREIGN-EARNED INCOME AND FOREIGN TAX CREDIT, 2011; FOREIGN-EARNED INCOME HIGHLIGHTS; FOREIGN TAX CREDIT HIGHLIGHTS; OVERVIEW OF FOREIGN-EARNED INCOME PROVISIONS; TOTAL FOREIGN-EARNED INCOME.
  • Foreign-earned income exclusion, housing exclusion, and housing deductionoverview of foreign tax credit provisions; foreign-source gross income; foreign taxes and foreign tax credit; summary; data sources and limitations; additional tabular data on tax stats; explanation of selected terms; index.

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