The Foreign Earned Income Exclusion (FEIE)
The Foreign Earned Income Exclusion (FEIE) is a lifesaver for U.S. expats, letting you exclude up to $120,000 of foreign-earned income from your U.S. taxes in 2023. If you qualify through either the Bona Fide Residence Test (living abroad for a full tax year) or the Physical Presence Test (being abroad for 330 days in a 12-month period), you could significantly reduce or even eliminate your U.S. tax liability.
Here at **Taxhauz**, we get it. Our team of CPAs and Enrolled Agents includes people who have lived abroad and know firsthand how stressful dealing with U.S. taxes while living overseas can be. Whether it’s navigating complicated tax forms or just trying to make sure you’re fully compliant, we’re here to help guide you through it.
Remember, this is just general info, and everyone’s situation is different. If you need to catch up with your U.S. taxes, we’re here for you.
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