If you are one of many US people living and working outside the US, you might have some apprehension regarding tax season. Living abroad means that you are subject to two sets of laws and two sets of tax codes. Avoiding paying taxes on the same earnings two times, you may claim the Foreign Earned Income Exclusion on your US taxes. It's a hefty exclusion that may help tremendously in case you qualify for this. Even semi permanent jobs might still qualify you for exclusion. You have to be able to show that you've been living in another country for a particular amount of time to qualify. http://vincentcochr1230.over-blog.com/pages/all-you-need-to-know-about-the-foreign-earned-income-exclusion-6637890.html

Foreign Earned Income Exclusion is for US people or even US resident aliens whose home country has an established tax treaty with the US. You must have been living in the foreign country for 330 days out of the 12 month period. Some consideration is given to your intentions and also the duration of time you expect to be in the country. You have to apply for the exclusion by filling out IRS tax form 2555. Once it is filed, every case would be considered individually. The IRS will think about your case mostly based on your answers given on the form.http://www.ziki.com/en/tyson-ray+847679/post/Learning-about-+13830008

When you have qualified for exclusion you must either file your taxes by the due date or file an amended return. Amended returns could be filed 2 to 3 years after the original was filed. When your taxes are filed with Foreign Earned Income Exclusion, the IRS statute of restrictions is moved to 3 years unless there is proof of fraud. As of 2010, the maximum exclusion was $91,500 for someone. If your partner also qualifies for the exclusion, then the total amount doubles.http://www.vilago21.com/event/All+you+need+to+know+about+the+foreign+earned+income+exclusion/404485/profile

Being eligible for the Foreign Earned Income Exclusion needs either the bona fide residence test or the physical presence test. The bona fide test needs that you prove that you have lived abroad for a minimum of one complete tax year. The physical presence test requires that you live in the country for 330 days in a 12 month duration. It is in spite of of the tax year & begins the day after you move into your residence in the foreign country. Journey outside the country have to be limited to 35 days. Any your residence in a country should be of a permanent nature, no touring about the country or even staying in temporary residences.