US Citizen living abroad and working for a US company - do I qualify for FEIE?

There's no difference how you're getting paid or how you're being taxed (if at all) where you live.

There's no difference where your employer is either.

If you live in a foreign country and qualify for the FEIE - you can exclude your foreign earned income, up to the limit. The requirements for qualification are summarized by the IRS here.

In your question it is evident that you already know that and since you refuse to state what exactly confused you, I don't know if this answer will help you. But, here it is.

In short, yes as of 2020, your US company paying you to your US bank account is foreign earned income if you work from a foreign residence. The source is where you are working from.

Your income and residence have to qualify as foreign. So you have to be outside of the US more than 350 days, or a legal resident of another country. And your work must not be physically in the US.

Expect this to change soon with all the remote work happening now.

Per the IRS 2020:

The source of your earned income is the place where you perform the services for which you received the income. Foreign earned income is income you receive for performing personal services in a foreign country. Where or how you are paid has no effect on the source of the income. For example, income you receive for work done in France is income from a foreign source even if the income is paid directly to your bank account in the United States and your employer is in New York City.

Foreign Earned Income Exclusion (FEIE) https://www.irs.gov/individuals/international-taxpayers/foreign-earned-income-exclusion

What is Foreign Earned Income? https://www.irs.gov/individuals/international-taxpayers/foreign-earned-income-exclusion-what-is-foreign-earned-income

Obviously, ask your lawyer and read the law. Not financial advice.

From what I understand from the IRS 2020:

The source of your earned income is the place where you perform the services for which you received the income. Foreign earned income is income you receive for performing personal services in a foreign country. Where or how you are paid has no effect on the source of the income. For example, income you receive for work done in France is income from a foreign source even if the income is paid directly to your bank account in the United States and your employer is in New York City.

There could be gray area here. Hypothetical scenario... If you work remotely for a company in the USA while living overseas AND you are managing foreign workers.... I would consider that valid income for the FEIE. Even if you are performing work that is for the company in the USA, managing a foreign locals while abroad could be considered foreign work. Thoughts?