it has been brought to my attention that i have been filing my US taxes all wrong.
i have been living (and working) in china for years. and i have been filing my US taxes using the best method i am aware of.
check it out; i have living (and working) here since 2004. my employers "assured me" i was paying local taxes but i was not given (or received) any "legal" affirmation of this.
so every year i file my US taxes using a method i am familiar with. meaning; i complete the 1040ez with a "special" input. meaning; i fill in line 1 (gross income) with the minimum amount in order to receive the "maximum EIC". and i writ in the amount of line 1 to the immediate left of the line.
anyhow, i have been informed tha i am "screwing myself" by doing this and i may be entitled to a lot more in irs credit.
if you are a "US individual tax return" pro...i want to hear from you.
i did contact a "tax pro". and the $80,000 you speak of is not a credit for income earners abroad. but it is a "tax break" or "exemption" one can claim on his/her income earned abroad.