IRS Exempts 4 countries from Foreign Earned Income Exclusion Rules Time Requirements

The IRS has exempted expats living in Libya, Yeman, Egypt and Syria from certain time requirements under the Foreign Earned Income Exclusion Rules (Form 2555 the current $92,900 earned income exclusion).  They have done this since many US expats may have had to abandon their residency due to political turmoil in those countries during 2011.

To real full details and the time parameters which apply read the Journal of Accountancy Article HERE 

Visit our website at www.TaxMeLess.com for further assistance with your US expat tax return preparation or just to learn more about the various applicable rules and regulations.