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Congress finally acted on New Year's Day, passing the "fiscal cliff" the law. This law extended the existing tax rate structure for single taxpayers with taxable income of below USD 400,000, and married taxpayers with taxable income of less than USD 450,000. For which higher incomes, the top tax rate was increased to thirty-nine.6% These limits are determined with the foreign earned income exemption. There is often a fine line between tax evasion and tax avoidance.

Tax avoidance is legal while tax evasion is criminal. If you would like to pursue advanced tax planning, professional you go for it with it is also of a tax professional that intending to defend the method to the Tax.