This market resolves to the first tax year in which American citizens who are considered tax residents outside the United States (‘expats’) will owe no U.S. taxes on income earned overseas.

Specifically, this means that in the given tax year:

• Foreign labor income earned while physically outside the U.S. will be completely exempt from U.S. taxation.

• Americans abroad may still be required to file tax returns, report income, or pay U.S. taxes on domestic-sourced activities (e.g., sales of U.S. property, domestic investments, U.S.-based business activities).

• The exemption must apply broadly to American citizens who qualify as tax residents abroad, not merely specific exemptions such as the Foreign Earned Income Exclusion (FEIE), Foreign Tax Credit, or treaty-based exceptions.

• The exemption must be enacted into law or confirmed by official IRS guidance or regulation.

The market will resolve based on the first applicable tax year explicitly defined by legislation or authoritative IRS guidance.