No, the IRS views this as a temporary assignment. You have to pay taxes
There are 2 ways to qualify for the $99,200 Foreign Earned Income Exclusion (FEIE).
1. Be out of the country for 330/365 days
2. Be a bonafide resident of a foreign country for one year.
The location of your tax home often depends on whether your assignment is temporary or indefinite. If you are temporarily absent from your tax home in the United States on business, you
may be able to deduct your away-from-home expenses (for travel, meals, and lodging), but you would not qualify for the foreign earned income exclusion. If your new work assignment is for an indefinite period, your new place of employment becomes your tax home and you would not be able to deduct any of the related expenses that you have in the general area of this new work assignment. If your new tax home is in a foreign country and you meet the other requirements, your earnings may qualify for the foreign earned income exclusion.
If you expect your employment away from home in a single location to last, and it does last, for 1 year or less, it is temporary unless facts and circumstances indicate otherwise.
Source:
IRS Pub 54, bottom of page 13
Don't trust us though. I've used a couple different firms to do my expat taxes and I prefer
Taxes For Expats for my returns. Talk to them. If you end up using them please send me PM so I can give you my name and get credit for the referral.
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Now, there may be a way to legally change that "No" into a "Yes". I am still learning about this and have yet to do it. This is also an oversimplification of the setup. You'll need to consult a firm that deals with this sort of thing, which I can refer you to. But, if done right, and you meet all the conditions, it is completely legal.
1) Open an off shore company in a place like Belize, we'll call it oicur12 Aviation
2) Your employer pays oicur12 Aviation for pilot services
Now you oicur12 (the person) will not be taxed on that income until the Belize company pays you. So you keep the money offshore and invest it. If you ever become an expat again and do qualify for the FEIE the Belize Company could then pay you (the person) some or all of your money up to the maximum exclusion under the FEIE + foreign housing credit + any foreign tax credit.