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Chapter 41
U.S. citizens working abroad: Tax treatment of foreign earned income
ey.com/EYTaxGuide
U.S. citizens and resident aliens are taxed on their worldwide income regardless of where it is earned, paid, or received. But U.S. citizens living abroad get certain tax benefits that are not available back home. Employees and self-employed individuals living abroad may elect to exclude up to $99,200 of their foreign-earned income from taxation in 2014. Employees and self-employed individuals may also exclude or deduct part of their housing costs from taxable income. This chapter tells you about the tax benefits you get from living abroad and what you have to do to qualify for them.
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