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Conversely, earned income abroad, and residual income from foreign securities, rental, or other activities abroad, can be excluded from U.S. taxable income, or foreign taxes paid thereon, may be as credits against U.S. taxes due.

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In 2003 the JGTRRA, or Jobs and Growth Tax Relief Reconciliation Act, was passed, expanding the 10% tax bracket and accelerating some within the changes passed in the 2001 EGTRRA.

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