US IRS rules, regulations and laws, for US Citizens, Americans, green card holders, and nonresidents living abroad or moving to the US or out of the US.... valuable information on IRS rules concerning U.S. expatriates and their tax returns, and tax planning.... by an experienced International Tax Attorney
New Tax Reduction Bill Now Passed by Both Houses of Congress - Details Below
The Bush tax cuts were extended for two more years, with some modifications. The new tax law includes the following.
* Provides a two-year AMT patch * Provides a one year tax cut on Social Security taxes for individuals * Increases the estate tax exemption from $3.5 million to $5 million * Decreases the top estate tax rate from 45% to 35% * Extends the deduction for school teacher expenses * Extends the deduction for state and local general sales taxes * Extends the deduction for qualified tuition and related expenses * Reinstates the research and development credit * Extends the credit for energy-efficient appliances * And more! Further details about the Tax Relief Act of 2010 is available at the following web sites.