Taxes Redux

A lively discussion has been informing me about the mysteries of VAT (thanks commenters!) and ironically for me it is tax day in another sense.  I am, of course, an American citizen living in the UK and as such I am responsible for filing a US federal income tax return even though my entire income for 2007 came from the fact that I live and work abroad.  Now I am lucky, being young and NOT employed in the city, my income falls below some limit that the US has set for which you get an exemption from federal tax.  If you really want to understand the details, or need a nap, read through this.  Regardless, I have taken onboard the advice that many give, and hired a lovely firm to handle all of my tax matters.  And today I need to mail a federal tax return that is 23 pages long and comes out to

zero.

That’s right, 23 pages of text (at a preparation cost of more than $1k US) to say neither do I have to pay in nor do I receive a refund.  Gotta love government bureaucracy… and the many charms of expat life!

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2 responses to “Taxes Redux

  1. I can identify with that one…except that after the HUGE return, I owe some tax because of US investments. Also, sadly, I slipped over the exemption level last year, in terms of my UK income. Oh joy…

    Janet

  2. Pingback: Death and Taxes « Not From Around Here

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