Bill > HR7358

This bill, the Tax Fairness for Americans Abroad Act of 2018, amends the Internal Revenue Code to provide an alternative exclusion from gross income for certain nonresident U.S. citizens living abroad. The key provisions are: 1) It creates a new Section 911A that allows "qualified nonresident citizens" to exclude their foreign earned income and foreign unearned income from their U.S. taxable income, as long as they do not make the election under existing Section 911. 2) It defines a "qualified nonresident citizen" as a U.S. citizen who has a tax home in a foreign country, has been in compliance with U.S. tax laws for the past 3 years, and either has been a bona fide resident of a foreign country for an entire taxable year or was present in a foreign country for at least 330 days during the taxable year. 3) It excludes U.S. government employees from qualifying as "nonresident citizens" under the new provision. The amendments made by this bill would apply to taxable years beginning after its enactment.

Budget and Finance

https://www.congress.gov/bill/115th-congress/house-bill/7358/all-info