How Form 8865 Credits 2024

Hello Anthony, hello Cory. We were posed with a Facebook question, yes, not towards us, but you did answer. It's one of the Facebook groups that we follow. The question was, "I'm confused about all the crying. Don't you get a thousand hundred thousand dollar tax-free exemption if you are out of the USA all year or having foreign established residency? What does that question mean and how would you answer it?" Yeah, this question - I couldn't tell at first if this person was just trolling the group, but actually turns out he's a recent US expat who just started working in Vietnam. And I love this question because I think it gives a great example of how people have a little bit of knowledge but they don't understand how the whole system works. And a lot of people, and I think a lot of the people in Washington who have the rules, say, "Why are people bellyaching where they have this exemption where they don't have to pay US taxes on around a hundred thousand dollars or they get a foreign tax credit, you know, so that they shouldn't have anything?" So all these people are looking for the Foreign Account Tax Compliance Act to be repealed. All these people, whoa, what is the problem, come on, it's a great deal. So I think I'll just read, can you please, I could read my question or my answer? Okay, yep. "Why all the crying? The IRS has made it so easy. All the forms are online, as are the instructions, and the instructions are super easy to read and never contain contradictions. And sure, you may have to consult a tax treaty, the treaty protocol, the savings clause which will negate the treaty, but again, those are online...