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Both the U.S. House and Senate have passed their own versions of the 2003 tax reduction act.
The Senate's version contains a provision repealing the $80,000 foreign earned income exclusion for US CITIZENS ABROAD.
I recommend that you contact your senator or congressman and demand that this portion of the bill be dropped immediately. The House and Senate will be getting together to compromise on a final tax bill to send to the President and the Form 2555 $80,000 foreign earned income exclusion should not be repealed!
You can email your opinion to your congressman or senator or anyone in Congress by going to http://www.visi.com/juan/congress/ .
Note that this also appl;ies to Canadian citizens who have "green cards" and are working in a third country. For instance, there are 30,000 US citizens in Saudi Arabia alone who will be affected.
David Ingram of the CEN-TA Group
US / Canada / Mexico tax and working Visa Specialists
108-100 Park Royal South
West Vancouver, BC, CANADA, V7T 1A2
(604) 913-9133 - Fax 913-9123 [email protected]
www.centa.com www.david-ingram.com
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