Get the free Form 2555-EZ

This document provides instructions for U.S. citizens and resident aliens to claim the foreign earned income exclusion on Form 2555-EZ, detailing eligibility, filing requirements, and specific tests

How to fill out form 2555-ez

How to fill out Form 2555-EZ

1. Begin by downloading Form 2555-EZ from the IRS website.
2. Fill in your name, Social Security number, and address at the top of the form.
3. Indicate your foreign earned income for the year in Part I.
4. Complete the Physical Presence Test or the Bona Fide Residence Test in Part II, depending on your situation.
5. Provide the dates you were physically present in the foreign country (or countries) to satisfy the necessary requirements.
6. Calculate your housing exclusion using the guidelines provided in the form, if applicable, in Part III.
7. Claim any eligible foreign taxes paid or any other deductions in the respective sections.
8. Review all your provided information for accuracy.
9. Sign and date the form before submitting it with your tax return.

Who needs Form 2555-EZ?

1. U.S. citizens and resident aliens who have foreign earned income.
2. Individuals who meet either the Physical Presence Test or the Bona Fide Residence Test.
3. Taxpayers seeking to exclude a portion of their foreign earned income from U.S. taxation.
4. Those whose total foreign earned income is less than the maximum exclusion limit for the tax year.

People Also Ask about

Can fiscal year tax returns be filed electronically?

Yes, you can file an original Form 1040 series tax return electronically using any filing status. Filing your return electronically is faster, safer, and more accurate than mailing your tax return because it's transmitted electronically to the IRS computer systems.

What is the EZ tax form?

Form 1040EZ was a shortened version of Form 1040 for taxpayers with basic tax situations. The form was discontinued as of the 2018 tax year and replaced with the redesigned Form 1040. Form 1040EZ could only be used by people with no dependents who were younger than age 65 and earned less than $100,000 per year.

Which forms Cannot be electronically filed?

Form 8283, Noncash Charitable Contributions. Form 8873, Extraterritorial Income Exclusion. Form 14039, Identity Theft Affidavit. Form W-7, Application for IRS Individual Taxpayer Identification Number.

What forms can be electronically filed with the IRS?

The following form types can be e-filed through the MeF Platform: Corporations (Forms 1120, 1120-F and 1120-S) Employment Tax (Forms 940, 940-PR, 941, 941-PR, 941-SS, 943, 943-PR, 944, and 945) 94x Online Signature PIN Registration. Exempt Organizations (Forms 990, 990-EZ, 990-N, 990-PF, 990-T, 1120-POL and 4720)

What is form 2555 EZ?

Form 2555 (Foreign Earned Income Exclusion) calculates the amount of foreign earned income and/or foreign housing you can exclude from taxation. Form 2555-EZ is a simplified version of this form.

Who needs to fill out form 2555?

U.S. Taxpayers living and working outside the United States may qualify to have a certain portion of their income excluded for U.S. tax purposes on IRS Form 2555. The foreign earned income exclusion is a method that taxpayers can use to exclude a certain portion of their income for tax purposes.

Can I file my US tax return online?

The IRS recommends using tax preparation software to e-file for the easiest and most accurate returns and fastest refunds. You may be able to file free online through IRS Direct File if you are in one of 25 participating states and have a simple tax return.

Can form 2555 be filed electronically?

Up to two Forms 2555 can be e-filed per return, one for each taxpayer. Note. Once you choose to exclude your foreign earned income, that choice remains in effect for that year and all later years unless you revoke it.

For pdfFiller’s FAQs

What is Form 2555-EZ?

Form 2555-EZ is a simplified version of Form 2555 used by U.S. citizens and resident aliens to report foreign earned income and claim the foreign earned income exclusion.

Who is required to file Form 2555-EZ?

Individuals who have foreign earned income and meet specific criteria, such as being a U.S. citizen or resident alien living abroad and who do not have self-employment income, are required to file Form 2555-EZ.

How to fill out Form 2555-EZ?

To fill out Form 2555-EZ, you need to provide your personal information, foreign address, details about your foreign earned income, and the time you have spent residing in a foreign country. Follow the instructions provided with the form carefully.

What is the purpose of Form 2555-EZ?

The purpose of Form 2555-EZ is to allow eligible taxpayers to claim an exclusion of foreign earned income, thereby reducing their taxable income in the United States.

What information must be reported on Form 2555-EZ?

Form 2555-EZ requires information such as your name, address, the foreign country you reside in, dates of your foreign residency, and the amount of foreign earned income you are claiming as an exclusion.