Читать книгу Larry's 2012 Tax Guide For U.S. Expats & Green Card Holders - In User-Friendly English! - Laurence E. 'Larry' - Страница 5

... tax changes we need to know in 2012…. On 23 December, 2011, the House of Representatives, Republican controlled, rather than be blamed for a possible economic sink hole that would cost the Republicans the 2012 elections, agreed to the Senate passed legislation that will impact you, the expat, ONLY if you are earning wages from which social security tax is being deducted – read on to find out what you have for 2011 and 2012 but is subject to end, 31 December 2012…..

Those Tea Party members of the House of Representatives did not get their way on 23 December 2011, as House Speaker John Boehner agreed to the Senate’s two month extension for social security payroll tax cuts, prior to recessing for the holidays. This will mean absolutely nothing to you if your wages overseas are not subject to social security tax deductions. If you are back in the USA, employed and making $50,000 per year, then the extension on payroll tax deductions from your gross salary will mean approximately $US1,000 more in your pocket. This is substantial, for many. Domestic wage earners in a country where the median family generates $US55,000 per year income. For those of you who aren’t aware of it, there is currently a reduction of social security payroll tax deductions from 6.2 percent to 4.2 percent to stimulate both individual and business spending. It is estimated that extending this cut will cost the government $US300 billion in revenue during 2012.

That two month extension will be extended throughout 2012 – for practical purposes, while some elected officials will bitch and moan about what it is costing the country, no one wants to campaign in November, 2012, with the stigma of having opposed keeping the consumer/tax payer flush with in order to increase tax revenue.

And for that matter, those Bush tax cuts that are due to expire at the end of 2012 will also be made permanent before the November elections – for that same exact reason. Right now, both parties agree to keep this for 98 percent of the tax paying population. It is that group of 2 percenters, those with income of $200,000 or more, that is the bone of contention and I’d bet my bottom dollar that this issue carries over to be one of the main campaign issues confronting the voters in November. Combining those Bush tax cuts with Obama’s payroll tax cuts means approximately $US2,700 in tax savings to the median income family. How do you think your Congressman/woman will eventually vote?

Oh, and that $US5 million gift tax exemption is set to expire on 31 December 2012, as well.

That, in essence, is it – no major changes to contend with now – don’t we have enough to handle with both FATCA and the new Form 8938?……but wait until next year!!!