Instructions for IRS Form 2555 Foreign Earned Income

IRS Form 2555 Foreign Earned Income

This document contains official instructions for IRS Form 2555 , Foreign Earned Income - a tax form released and collected by the Internal Revenue Service (IRS), a subdivision of the U.S. Department of the Treasury. An up-to-date fillable IRS Form 2555 is available for download through this link.

FAQ

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

Q: Who needs to file Form 2555?
A: US citizens or resident aliens who have foreign earned income and meet certain criteria need to file Form 2555.

Q: What is foreign earned income?
A: Foreign earned income is income earned abroad by US citizens or resident aliens.

Q: What are the criteria to meet in order to file Form 2555?
A: You need to meet either the bona fide residence test or the physical presence test.

Q: What is the bona fide residence test?
A: The bona fide residence test requires you to be a bona fide resident of a foreign country for a full tax year.

Q: What is the physical presence test?
A: The physical presence test requires you to be physically present in a foreign country for a specific amount of time during a tax year.

Q: What information is required to complete Form 2555?
A: You will need to provide details about your foreign earned income, foreign residency, and any tax exclusions or deductions you are claiming.

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

Q: Can I e-file Form 2555?
A: Yes, you can e-file Form 2555 along with your tax return.