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Marvin,EA, Enrolled Agent
Category: Tax
Satisfied Customers: 1672
Experience:  Enrolled to Represent Taxpayers Before The IRS
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is it possible at all to negoiate with the IRS for a flat ...

Customer Question

is it possible at all to negoiate with the IRS for a flat rate tax rate, when the income is in the multi millions to billions of dollars? Is there a tax treaty a US Citizen can get from the IRS?
Submitted: 8 years ago.
Category: Tax
Expert:  Marvin,EA replied 8 years ago.
Hello and thank you for using Just Answer. Sorry but the tax rates are set by congress for all US citizen regardless of their income. Individual or companies cannot negotiate tax rates with the IRS. The U.S. have tax treaty with some countries to reduct taxes for their citizens but the tax reduction must be the same for U.S. citizens living in their countries.
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Customer: replied 8 years ago.
Reply to Marvin,EA's Post: Tax treaties reduce the U.S. taxes of residents of foreign countries. "With certain exceptions", they do not reduce the U.S. taxes of U.S. citizens or residents. U.S. citizens and residents are subject to U.S. income tax on their worldwide income.

Notice that is says with certain exceptions, what are those exceptions?
Expert:  Marvin,EA replied 8 years ago.

The exceptions to U.S. citizens not paying taxes on worldwide income are inheritance income, income subject to the foreign earned income exclusion (up to $82.400 for 2007).