Get 1995 Inst 2555-ez. Instructions For Form 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.

Using Form 2555 for Foreign Earned Income Exclusion You can claim the FEIE by filing Form 2555. To do this, you will need to know the following: Which test you are using to qualify (bona fide residence or physical presence)

File Form 1116, Foreign Tax Credit, to claim the foreign tax credit if you are an individual, estate or trust, and you paid or accrued certain foreign taxes to a foreign country or U.S. possession. Corporations file Form 1118, Foreign Tax Credit—Corporations, to claim a foreign tax credit.

Form 2555 is part of Form 1040. You will file both to report your income and claim the foreign income exclusion. You can e-file a tax return that includes Form 2555 through TurboTax. If you have received a message that you cannot e-file, it is for a different reason.

The source of your earned income is the place where you perform the services for which you receive 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.

You must attach Form 2555, Foreign Earned Income, to your Form 1040 or 1040X to claim the foreign earned income exclusion, the foreign housing exclusion or the foreign housing deduction.

What Information Do I Need to Complete Form 2555? Employer's name and address (foreign and US, if applicable), International travel calendar, including days you might have worked in the US, Prior year Form 2555, if available, and. Foreign income earnings information.

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.