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Revision as of 10:46, 22 October 2024
Families are usually considered to become poor or low income are given assistance from earned income credit, or EIC. The EIC is really a tax credit that helps such families with low earnings to keep a better standard of living. An EIC can translate into a tax refund of somewhere between $400 and $4,500. This article will explain how you can figure out if you are entitled for the EIC.
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Basically, the government recognizes that income earned abroad is taxed by the resident country, and always be excluded from taxable income your IRS if ever the proper forms are tracked. The source of the income salary paid for earned income has no bearing on whether is U.S. or foreign earned income, rather where perform or services are performed (as on the example of employee doing work for the You.S. subsidiary abroad, and receiving his pay check from the parent U.S. company out of your U.S.).
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