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Chuck Heyde, CPA, CGMA
I think you mean "FATCA" (www.irs.gov/Businesses/Corporations/Foreign-Account-Tax-Compliance-Act-(FATCA))
A 6 month overseas assignment would have very little US tax effect - maybe just foreign tax credit issues.
However, the country you are visiting may have income taxes for which you may be liable.
Basically, I recommend you obtain competent tax advise before you proceed. Because if you extend the assignment for 11 months instead of 6, you may qualify for the $90K foreign earned income exclusion - (www.gemms.us/tools/foreign-earned-income-exclusion). And you could claim the non-US income taxes paid as a credit on your US income tax return.
I provide a FREE "Pre-Assignment Consultation" which normally takes about 30 minutes and is held over the phone. If interested, shoot me an e-mail -Chuck.Heyde@GEMMS.us
Chuck Heyde, CPA, CGMA
www.GEMMS.us
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549 weeks ago
A 6 month overseas assignment would have very little US tax effect - maybe just foreign tax credit issues.
However, the country you are visiting may have income taxes for which you may be liable.
Basically, I recommend you obtain competent tax advise before you proceed. Because if you extend the assignment for 11 months instead of 6, you may qualify for the $90K foreign earned income exclusion - (www.gemms.us/tools/foreign-earned-income-exclusion). And you could claim the non-US income taxes paid as a credit on your US income tax return.
I provide a FREE "Pre-Assignment Consultation" which normally takes about 30 minutes and is held over the phone. If interested, shoot me an e-mail -Chuck.Heyde@GEMMS.us
Chuck Heyde, CPA, CGMA
www.GEMMS.us