U.S. Representative Don Beyer (D-VA) has introduced the Tax Simplification for Americans Abroad Act (Bill H.R. 6057). If approved, the bill would require the introduction of a new short-form tax return for certain taxpayers living abroad that would replace all other current forms for reporting income. In addition, the bill would amend the foreign earned income exclusion so that it would apply for a broader scope of income received, including pensions, interest and dividends, capital gains, distributions from retirement funds, and others. Under the current rules, the exclusion is generally limited to foreign earned income from wages, salaries, and professional...