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Old 01-03-2009, 01:25 PM
  #3  
penguin22
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Joined APC: Feb 2006
Position: 777 Capt
Posts: 131
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Originally Posted by Boomerang View Post
I don't think the requirement is that you be a tax resident of Korea. Just that you maintain a tax residence outside the US.
Well here's a quote from IRS Pub 54: (linked above)
"If your tax home is in a foreign country and you meet the bona fide residence test or the physical presence test, you can choose to exclude from your income a limited amount of your foreign earned income"

So sounds to me like if you won't meet the physical presence test, (330 days outside of the US), you'd have to meet the bona fide residence test.

In casual conversation about this job, everybody talks of the $87k income exclusion. I'm just trying to find where it's justified with the IRS.

My accountant doesn't have alot of experience with this stuff, and he told me at first glance that I wouldn't qualify for the exclusion. I'm hoping he's wrong.
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