Treasury Waives Income Exclusion Requirements for Six Countries

Treasury updated its list of countries where the income exclusion requirements are waived for US citizens or residents living abroad for 2022.

US citizens or residents who are in a foreign country for a certain amount of time can elect to exclude foreign earned income and housing costs from gross income under Section 911.

Revenue Procedure 2023-19 waived the requirements for individuals living in Ethiopia, Iraq, Ukraine, Belarus, China, and Mali because of “war, civil unrest, or similar adverse conditions precluded the normal conduct of business.”

• The procedure also lists dates an individual must have ...