The Internal Revenue Service will hold a free online, web-based information session to assist U.S. overseas taxpayers in understanding the foreign earned income exclusion on Wednesday, June 29.
In general, a U.S. citizen or a resident alien of the United States living abroad is taxed on their worldwide income.
However, these taxpayers may qualify to exclude from income up to an amount of foreign earnings that is adjusted annually for inflation ($100,800 for 2015 or $101,300 for 2016). In addition, eligible taxpayers can exclude or deduct certain foreign housing amounts.
This webinar covers the basics of the Foreign Earned Income Exclusion including:
- The requirements for claiming the foreign earned income exclusion
- Identifying which form to use, Form 2555 or 2555-EZ
- Specifying the information to include on the Form 2555 or 2555-EZ
To attend this webinar, taxpayers or tax professionals interested in learning more about these requirements should log in using the Foreign Earned Income for U.S. Overseas Taxpayers webinar link. It is recommended attendees log in 10 minutes prior to the start time.
The session will be recorded and made available at a later time.
Attendees will earn 1 CE credit (Federal Tax).
More Information Available
Any U.S. taxpayer here or abroad with tax questions can refer to the International Taxpayers landing page and use the online IRS Tax Map and the International Tax Topic Index to get answers. These online tools assemble or group IRS forms, publications and web pages by subject and provide users with a single entry point to find tax information.
Taxpayers who are looking for return preparers abroad should visit the Directory of Federal Tax Return Preparers with Credentials and Select Qualifications.
To help avoid delays with tax refunds, taxpayers living abroad should visit the Helpful Tips for Effectively Receiving a Tax Refund for Taxpayers Living Abroad page.
More information on the tax rules that apply to U.S. citizens and resident aliens living abroad can be found in, Publication 54, Tax Guide for U.S. Citizens and Resident Aliens Abroad, available on IRS.gov.
- Foreign Earned Income Exclusion
- Publication 54, Tax Guide for U.S. Citizens and Resident Aliens Abroad
- Form 2555
- Instructions for Form 2555
- Form 2555-EZ
- Instructions for Form 2555-EZ
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