FOREIGN-EARNED-INCOME EXCLUSION

FOREIGN-EARNED-INCOME EXCLUSION

foreign-earned-income exclusion. The Internal Revenue Code provision that excludes from taxation a limited amount of income earned by nonresident taxpayers outside the United States. ? The taxpayer must elect between this exclusion and the foreign tax credit. IRC (26 USCA) ¡ì 911(a), (b). See foreign tax credit under TAX CREDIT. [Cases: Internal Revenue 4095¨C4122. C.J.S. Internal Revenue ¡ì¡ì 16, 475¨C476, 480¨C488.]
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