Under what circumstances would favor the foreign earned income exclusion

Expert Solution

Answer:- The following circumstances in which a person is able to -

1. In order to exclude certain income from US taxes. It is quiet difficult to meet the burden but for individuals who qualify, they would able to exclude of $100,000 of earned income each year from the tax.

2. They may also get to exclude a portion of their housing.

3. If an individual takes an exclusion it doesn't mean that the person is not supposed to file its taxes. Only because a person qualifies for the exemption it doesn't means a person can run away from filing it's taxes.

4. When claiming foreign earned income exclusion, it must be done timely.

5. If a person doesn't claim the exclusion properly n their return it may be waived off which means they could not claim the exclusion for the current tax year at a future date for which a person can typically apply for thr reasonable cause and should submit a statement along with their tax return explaining why they may not have claimed it timely.

ekkarill92 answered 1 year ago

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