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Revision as of 16:30, 12 May 2026


Despite the tax rate reductions of your Jobs and Growth Tax Relief Reconciliation Act of 2003, the superior marginal tax bracket for many retirees can be a whopping 46.3%. Why? Because Social Security benefits are subject to income taxation. Those affected are Social Security recipients who have enough good fortune (misfortune?) always be subject to both the 25% tax bracket and also the 85% inclusion rate for Social Security benefits.

Conversely, earned income abroad, and passive income from foreign securities, rental, or stuff abroad, could be excluded from U.S. taxable income, or foreign taxes paid thereon, can be used as credits against Ough.S. taxes due.

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Filing Conditions. Reporting income isn't a requirement for everyone but varies more than amount and kind of sales. Check before filing to check you are eligible for a filing exemptions.

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The second way would be to be overseas any 330 days each full 12 month period out of the house. These periods can overlap in case of an incomplete year. In this case the filing payment date follows the completion of each full year abroad.

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