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foreign income

Understanding the Foreign Earned Income Exclusion

Feb 3, 2022 By 1800Accountant

U.S. citizens and resident aliens who live abroad are taxed on their worldwide income.  But such taxpayers may qualify for the foreign earned income exclusion, which allows certain taxpayers to exclude up to $112,000 (in 2022) of their foreign earnings from income, as well as to exclude or deduct certain foreign housing costs. Note, however, […]

Filed Under: Finance, Tax and Accounting Tagged With: foreign income

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