foreign earned income exclusion

foreign-earned-income exclusion. The Internal Revenue Code provision that excludes from taxation a limited amount of income earned by nonresident taxpayers outside the United States. • The taxpayer must elect between this exclusion and the foreign tax credit. IRC (26 USCA) § 911(a), (b). See foreign tax credit under TAX CREDIT. [Cases: Internal Revenue 4095–4122. C.J.S. Internal Revenue §§ 16, 475–476, 480–488.]

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词条贡献者

译者张文，国际知名商学院金融专业，擅长翻译各种与结构性融资及衍生品诉讼相关的法律文件。