Category Archives: Foreign Earned Income Exclusion

People who live and work outside the United States may be able to exclude all or part of their foreign-source wages and self-employment income from the federal income tax through a provision called the foreign earned income exclusion. To qualify for the foreign earned income exclusion, a person needs to:
•Work and reside outside the United States, and
•Meet either the Bona Fide Resident or Physical Presence tests.

Persons who qualify are eligible …

2555-EZ

When can I use Form 2555-EZ?

The Foreign Earned Income Exclusion allows taxpayers to exclude their foreign earned income up to $100,800 in 2015 and $99,200 in 2014.  In order to use the Foreign Earned Income Exclusion, the taxpayer must file Form 2555 or Form 2555-EZ along with Form 1040,  the year end tax return….