Summary: S.2283 — 96th Congress (1979-1980)All Information (Except Text)

There is one summary for S.2283. Bill summaries are authored by CRS.

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Introduced in Senate (02/08/1980)

Amends the Internal Revenue Code to increase the earned income exclusion for United States citizens working abroad, who are bona fide residents of a foreign country, from an annual rate of $20,000 to: (1) $50,000; or (2) $65,000, if such persons have been working abroad for more than two years. Allows separate exclusions to married individuals who are both working overseas, although one's excess exclusion cannot be used against income earned by the other.

Allows an exclusion from gross income for housing allowances or housing expenses which exceed 20 percent of earned income (determined without regard to such allowance).

Repeals current provisions of the Code allowing tax deductions to such persons for certain living expenses abroad.