IRS Form 2555 Foreign Earned Income

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IRS Form 2555 Foreign Earned Income

What Is IRS Form 2555?

This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury. Check the official IRS-issued instructions before completing and submitting the form.

FAQ

Q: What is IRS Form 2555?
A: IRS Form 2555 is a form used to report foreign earned income.

Q: Do I need to file IRS Form 2555?
A: You need to file IRS Form 2555 if you have foreign earned income and meet certain criteria.

Q: What is considered foreign earned income?
A: Foreign earned income is income earned from working in a foreign country.

Q: Can I claim a foreign earned income exclusion on IRS Form 2555?
A: Yes, you can claim a foreign earned income exclusion on IRS Form 2555 to exclude a certain amount of your foreign earned income from US taxes.

Q: What are the eligibility requirements for the foreign earned income exclusion?
A: To be eligible for the foreign earned income exclusion, you must pass either the bona fide residence test or the physical presence test.

Q: Are there any limits on the amount of foreign earned income that can be excluded?
A: Yes, there are limits on the amount of foreign earned income that can be excluded. The maximum exclusion amount for tax year 2021 is $108,700.

Q: Can I still claim deductions and credits if I use IRS Form 2555?
A: Yes, you can still claim deductions and credits if you use IRS Form 2555.

Q: Do I need to attach any supporting documentation when filing IRS Form 2555?
A: Yes, you need to attach certain supporting documentation, such as a statement of foreign income, when filing IRS Form 2555.

Q: When is the deadline to file IRS Form 2555?
A: The deadline to file IRS Form 2555 is typically the same as the regular tax filing deadline, which is April 15th.

Q: Can I file IRS Form 2555 electronically?
A: Yes, you can file IRS Form 2555 electronically using tax preparation software or through a tax professional.

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Form Details:

  • A 3-page form available for download in PDF;
  • This form cannot be used to file taxes for the current year. Choose a more recent version to file for the current tax year;
  • Editable, printable, and free;
  • Fill out the form in our online filing application.

Download a fillable version of IRS Form 2555 through the link below or browse more documents in our library of IRS Forms.

Download IRS Form 2555 Foreign Earned Income

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