US to squeeze expats on taxes

American expats are worried about the potential repeal of Section 911 and the effect it will have on their income.

Controversy over President Bush's tax cut proposal is not just confined to the US, Asia has also caught wind of it.

To help fund Bush's ambitious tax cut plan, the US Senate is currently reviewing the possibility of repealing Section 911 of its internal revenue code, a bill first enacted in 1926 to exempt the first $80,000 income tax for Americans who work overseas. Currently, US expatriates are subjected to the income tax laws of both the foreign country as well as the US. To mitigate the double-taxation, Section 911 allows these expatriates to gain tax exemption for income gained in foreign country up to $80,000.

So the repeal...

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