foreign earned income exclusion IRS tax form 2555

January 11, 2024

If you’re working abroad, understanding the Foreign Earned Income Exclusion can significantly impact your tax situation. To apply for this exclusion, you need to file Form 2555 with the IRS, which allows qualifying expats to exclude a certain amount of their foreign earned income from U.S. taxation. It’s essential to differentiate between foreign income exclusion and foreign tax exclusion, as each has specific qualifications and implications for your earned income exclusion

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