Form 2555 Ez PDF Details

Understanding the nuances of the Form 2555-EZ can provide significant tax advantages for U.S. citizens and resident aliens working abroad. This form, an attachment to Form 1040, is essential for those who have earned wages or salaries in a foreign country and seek to exclude a portion of that income from U.S. taxes, under certain conditions. To qualify, an individual's total foreign earned income must be $103,900 or less. Additionally, the form stipulates that the taxpayer must not have any self-employment income, must not claim any business or moving expenses, and cannot apply for the foreign housing exclusion or deduction. Eligibility hinges on passing either the Bona Fide Residence Test or the Physical Presence Test, establishing that the taxpayer's tax home was in a foreign country for the relevant period. The form also requires disclosure of foreign addresses, employer details, and a history of any previous claims or revocations regarding the foreign earned income exclusion. The calculation section helps determine the exclusion amount, factoring in the number of days spent in a qualifying period within the tax year. The ultimate goal with Form 2555-EZ is to accurately report foreign earned income and legitimately minimize U.S. tax liabilities by utilizing this targeted exclusion.

QuestionAnswer
Form NameForm 2555 Ez
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namesirs form 2555 ez income, 2555 form irs, what is form 2555 ez, form 2555 irs get

Form Preview Example

through ▶

Form 2555-EZ

 

Foreign Earned Income Exclusion

 

OMB No. 1545-0074

 

 

 

 

 

 

 

 

 

 

 

▶ Attach to Form 1040. Complete the Foreign Earned Income Tax Worksheet in the

 

2018

Department of the Treasury

 

Instructions for Form 1040 if you enter an amount on line 18.

 

Attachment

 

 

 

Internal Revenue Service (99)

 

▶ Go to WWW.IRS.GOV/FORM2555EZ for instructions and the latest information.

 

Sequence No. 34A

Name shown on Form 1040

 

Your social security number

 

 

 

 

 

You May Use

This Form

if You:

•Are a U.S. citizen or a resident alien.

•Earned wages/salaries in a foreign country.

•Had total foreign earned income of $103,900 or less. See line 17.

•Are filing a calendar year return that covers a 12-month period.

• Don’t have self-employment income.

And You: • Don’t have business/moving expenses.

•Don’t claim the foreign housing exclusion or deduction.

Part I Tests To See if You Can Take the Foreign Earned Income Exclusion

1 Bona Fide Residence Test

aWere you a bona fide resident of a foreign country or countries for a period that includes an entire tax year?

See instructions

Yes

•If you answered “Yes,” you meet this test. Fill in line 1b and then go to line 3.

•If you answered “No,” you don’t meet this test. Go to line 2 to see if you meet the Physical Presence Test.

b Enter the date your bona fide residence began ▶

 

, and ended (see instructions) ▶

2 Physical Presence Test

aWere you physically present in a foreign country or countries for at least 330 full days during:

2018, or

}

Yes

{ any other period of 12 months in a row starting or ending in 2018?

 

•If you answered “Yes,” you meet this test. Fill in line 2b and then go to line 3.

•If you answered “No,” you don’t meet this test. You can’t take the exclusion unless you meet the Bona Fide Residence Test above.

b The physical presence test is based on the 12-month period from ▶

3Tax Home Test. Was your tax home in a foreign country or countries throughout your period of bona fide

residence or physical presence, whichever applies?

Yes

•If you answered “Yes,” you can take the exclusion. Complete Part II below and then go to page 2.

•If you answered “No,” you can’t take the exclusion. Don’t file this form.

No

.

No

.

No

Part II General Information

4Your foreign address (including country)

5Your occupation

6Employer’s name

7Employer’s U.S. address (including ZIP code)

8Employer’s foreign address

9Employer is (check any that apply):

a

A U.S. business

 

 

b

A foreign business

 

 

c

Other (specify) ▶

 

 

 

 

 

 

10a

If you previously filed Form 2555 or 2555-EZ, enter the last year you filed the form. ▶

 

 

 

 

b

If you didn’t previously file Form 2555 or 2555-EZ, check here ▶

and go to line 11a.

 

 

 

c

Have you ever revoked the foreign earned income exclusion? . .

. . . . . . . . . . . . .

Yes

No

dIf you answered “Yes,” enter the tax year for which the revocation was effective. ▶

11a List your tax home(s) during 2018 and date(s) established. ▶

b Of what country are you a citizen/national? ▶

For Paperwork Reduction Act Notice, see the Form 1040 instructions.

Cat. No. 13272W

Form 2555-EZ (2018)

Form 2555-EZ (2018)

Page 2

 

 

Part III Days Present in the United States—Complete this part if you were in the United States or its possessions during 2018.

12(a) Date arrived in U.S.

(b)Date left U.S.

(c)Number of days in U.S. on business

(d)Income earned in U.S.

on business (attach computation)

Part IV

Figure Your Foreign Earned Income Exclusion

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

13

Maximum foreign earned income exclusion

. . .

13

 

 

 

14

Enter the number of days in your qualifying period that fall within 2018 .

 

14

 

days

 

 

 

 

 

 

 

 

 

 

15

Did you enter 365 on line 14?

 

 

 

 

 

 

 

 

 

 

Yes. Enter “1.000.”

 

 

 

 

 

 

 

 

 

 

 

No. Divide line 14 by 365 and enter the result as }

. . . . . . . . . . .

. . .

15

×

.

 

 

 

a decimal (rounded to at least three places).

 

 

 

 

 

 

 

 

 

16

Multiply line 13 by line 15

. . .

16

 

 

 

17

Enter, in U.S. dollars, the total foreign earned income you earned and received in 2018. See

 

 

 

 

 

instructions. Be sure to include this amount on Form 1040, line 1

. . .

17

 

 

 

 

Caution: If the amount on line 17 is more than $103,900, don’t file this form. You must file Form

 

 

 

 

 

2555 instead.

 

 

 

 

 

 

 

 

 

18

Foreign earned income exclusion. Enter the smaller of line 16 or line 17 here and in parentheses

 

 

 

 

 

on Schedule 1 (Form 1040), line 21. Next to the amount, enter “2555-EZ.” On Schedule 1

 

 

 

 

 

(Form 1040), subtract this amount from your additional income to arrive at the amount reported on

 

 

 

 

 

Schedule 1 (Form 1040), line 22

. . ▶

18

 

 

 

Form 2555-EZ (2018)

How to Edit Form 2555 Ez Online for Free

You'll be able to work with what is form 2555 ez without difficulty with our online PDF tool. To maintain our tool on the cutting edge of efficiency, we strive to put into practice user-oriented features and improvements regularly. We're routinely thankful for any suggestions - join us in remolding PDF editing. For anyone who is looking to get started, here's what it will require:

Step 1: Open the PDF in our editor by pressing the "Get Form Button" in the top part of this webpage.

Step 2: When you start the editor, you will find the document all set to be completed. Apart from filling out different fields, you could also perform several other things with the form, specifically putting on any textual content, modifying the initial text, inserting illustrations or photos, affixing your signature to the form, and much more.

This PDF doc needs specific information; to ensure consistency, you should pay attention to the following steps:

1. The what is form 2555 ez requires particular details to be inserted. Make sure the next blanks are complete:

form 2555 writing process detailed (part 1)

2. Right after the previous array of blanks is completed, go on to type in the relevant details in these - or any other period of months, Fide Residence Test above, b The physical presence test is, through, Tax Home Test Was your tax home in, Yes, Part II General Information, Your foreign address including, Your occupation, Employers name, Employers US address including, Employer is check any that apply, a A US business b A foreign, If you previously filed Form or, and a b c Have you ever revoked the.

Employers US address including, Employer is check any that apply, and a A US business b A foreign inside form 2555

It is easy to make errors when completing the Employers US address including, so make sure you take a second look before you'll submit it.

3. This next section is related to If you previously filed Form or, a b c Have you ever revoked the, If you answered Yes enter the tax, and go to line a, Yes, a List your tax homes during and, b Of what country are you a, For Paperwork Reduction Act Notice, Cat No W, and Form EZ - fill in all these fields.

The right way to fill in form 2555 portion 3

4. The fourth section comes with these blanks to complete: on business attach computation, and Part IV Figure Your Foreign Earned.

Stage # 4 of completing form 2555

5. Finally, the following final part is what you'll want to wrap up prior to submitting the form. The fields at this point include the following: Enter the number of days in your, Did you enter on line, Yes Enter, No Divide line by and enter the, a decimal rounded to at least, Multiply line by line, Enter in US dollars the total, Foreign earned income exclusion, days, and Form EZ.

How to fill in form 2555 part 5

Step 3: Just after rereading your fields you've filled in, press "Done" and you're done and dusted! Sign up with us now and immediately access what is form 2555 ez, set for downloading. All modifications you make are kept , which enables you to customize the document at a later point anytime. We don't share or sell any details that you provide when filling out forms at our site.

Form 2555 Ez isn’t the one you’re looking for?

Related Documents