Abstract
United States citizens, wherever resident, and aliens resident in the United States are taxed on their worldwide income. Prior to 1979 an exclusion was allowed up to a maximum of $ 25,000 per annum for income earned abroad. The Tax Reform Act of 1978 substituted for the old exclusion a new regime which provides in general an exclusion or deduction for ‘excess’ housing, living and educational costs incurred by US persons working abroad, and other peripheral benefits.
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© 1979 Springer Science+Business Media Dordrecht
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Anthoine, R. (1979). United States of America. In: Anthoine, R. (eds) Tax Incentives for Private Investment in Developing Countries. Springer, Dordrecht. https://doi.org/10.1007/978-94-017-4469-0_15
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DOI: https://doi.org/10.1007/978-94-017-4469-0_15
Publisher Name: Springer, Dordrecht
Print ISBN: 978-94-017-4471-3
Online ISBN: 978-94-017-4469-0
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