Get 1998 Instructions 2555-ez

If you're a working American, you need to file taxes no matter where you live. IRS Form 2555-EZ can be used by qualifying taxpayers who would otherwise have to use IRS Form 2555 to exclude part of their earned foreign income from IRS Form 1040.

TIMELY FILING THE FORM 2555 However, you need to include the form each year with your tax return in order to claim the benefit of that year. To revoke your choice, you must attach a statement to your return for the first year you do not wish to claim the exclusion.

To pass this test, all of the following must be true: You have foreign earned income. You have a tax home in a foreign country. You have been physically present in a foreign country for at least 330 days out of any 12-month period.

The foreign tax credit is a U.S. tax credit used to offset income tax paid abroad. U.S. citizens and resident aliens who pay income taxes imposed by a foreign country or U.S. possession can claim the credit.

Your foreign income may be exempt from tax (under section 23AF) if you work on an approved overseas project. Working for certain international organisations. Income from working for certain international organisations may be exempt from tax in Australia. Australian defence force members performing overseas duty.

To pass this test, all of the following must be true: You have foreign earned income. You have a tax home in a foreign country. You have been physically present in a foreign country for at least 330 days out of any 12-month period.

Physical Presence Test To meet this test, you must be a U.S. citizen or resident alien who is physically present in a foreign country, or countries, for at least 330 full days during any period of 12 months in a row. A full day means the 24-hour period that starts at midnight.