Posted on November 6, 2006 by Greg Herman-Giddens

IRS Increases Foreign Earned Income Exclusion to $82,400

Rev. Proc. 2006-51 increases the amount of foreign earned income eligible for exclusion from gross income to $82,400 for tax years beginning in 2006.  The prior $80,000 exclusion provided by IRC §911 is adjusted for inflation for calendar years after 2005 pursuant to the Tax Increase Prevention and Reconciliation Act of 2005. Under prior law, the exclusion was not due for adjustment until 2008.
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