What does bona fide foreign resident mean?

bona fide foreign resident meaning in Law Dictionary

taxpayer in the US whom life in a foreign nation fr the year. These are generally entitled to a foreign earned income tax exclusion. They need to be permanent residents in the nation they reside in but have actually property in the usa they plan to get back to.

bona fide foreign resident meaning in Business Dictionary

A U.S. taxpayer whom lives in a foreign country for your income tax 12 months and so qualifies when it comes to foreign earned income exclusion. The Internal income provider has detailed needs for genuine foreign residents. They need to have a permanent residence in a foreign nation, but they should also have a permanent house into the U.S., that they intend to return at some point later on.