Filers Fleeing 4 Nations Can Still Exempt Foreign Income

Law360, New York (March 24, 2014, 4:38 PM EDT) -- Americans who fled any of four unstable countries last year can still exempt their foreign earned income and housing costs from their 2013 returns, the Internal Revenue Service said Monday.

Thanks to the revenue procedure, taxpayers who lived in Egypt, Pakistan, Lebanon or Yemen but left one of those countries after specific dates set by the agency can still file as “qualified individuals” under Section 911(d) of the Internal Revenue Code, which exempts their foreign earned income and housing costs from American taxation.

Normally, American citizens...
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