... percent Medicare tax. • When comparing the after -tax yield on taxable bonds with tax- exemptbonds, take into account the additional 3.8 percent Medicare tax that willapply to taxable bonds if ... abroad, you may still owe U.S. income taxes. The tax law generallyrequires U.S. citizens and residents to file U.S. income tax returns and pay U.S.income taxes on theirworldwideincome. However, ... 2011.Foreign income taxes paid on foreign wages or self-employment income canbe claimed as a tax deduction or credit on a U.S. income tax return. If your wages are subject to Social Security taxes in a...