New trade laws were recently enacted after President Obama signed them into law recently.
One of the provisions is affecting child tax credit claimed by certain expatriates. Under the provisions of new law, expatriates claiming foreign earned income exclusion under IRC 911 will no longer be entitled to claim refundable child tax credit. The change is effective from the tax years beginning after December 31, 2014.
Pertinent to note here that IRC 911 exclusion limit for 2015 tax year is $100,800.
Original Post By: Pallav Acharya
Certified Public Accountant, Chartered Accountant and Chartered Global Management Accountant with a niche in international tax area since 1985. Specialties include cross border tax consultation and compliance for business and individual clients. Frequent speaker, author of articles on international tax topics. Founder- owner of boutique firm specializing in international tax planning and compliance.
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