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Revision as of 20:18, 23 July 2026


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Congress finally acted on New Year's Day, passing the "fiscal cliff" legal guidelines. This law extended the existing tax rate structure for single taxpayers with taxable income of lower USD 400,000, and married taxpayers with taxable income of less than USD 450,000. For those with higher incomes, the top tax rate was increased to 22.6% These limits are determined prior to the foreign earned income different.

B) Interest earned, however, not paid, during a bond year, must be accrued after the bond year and reported as taxable income for the calendar year in that the bond year ends.

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