Income exclusion amount for 2003...will it change?

Hi Helen,

Question for you- since the exchange rate has moved quite dramatically over the past few months (US $ vs. UK£) is there any chance that the current $80,000 exclusion may be revised to a higher amount?

I ask because it seems unfair that we expats have to pay taxes while living abroad and especially unfair that it depends on an exchange rate conversion.

Thanks for your assistance!

Julie

Hi Julie

The foreign earned income exclusion has remained at $80,000 for 2003 tax year.


Helen