let me give some clarification on this 80k tax free stuff. that 80k is still taxed up front. once you file your return then, if you qualify, the 80k is backed out. in order to qualify you must meet one of two tests.
the first test is the BFR, or bona fide residence test. this is when you are living overseas for an entire calendar year. so, if you go to another country in late 2005 you won't be able to file your '05 return until '07 with your '06 return.
the other test is PPT, or physical presence test. to qualify, one must be living/working in another country besides the US for at least 330 consecutive days. this way will also limit the amount of the foreign earned income exclusion.
to receive the full 80k exclusion, one must work overseas for the whole year. also, before anyone signs up for something like this you should know whether or not the company you work for is tax equalized. being equalized means that your US income tax would be the same amount whether you left on assignment or not. companies do this to ensure that employees don't make a large gain or end up being harmed tax wise for being on assignment.