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Form 2555-EZ Texas Dallas: What You Should Know

We encourage you to choose the right form based on your specific circumstances. It is important to understand the difference between  the US Form 2555 and a U.S. Form 2555-EZ to determine if you will be eligible for the Foreign Earned Income exclusion/exclusion of 4,895 for 2018. If you are on US Form 1120, 2555 and Form 2555-EZ and have earned between 12,001 and 400 or if you are on any other expat tax form, the IRS will calculate your expat tax liability, the amount you can exclude or deduct, based on how much you've earned or received. If you are a U.S. Expat filing US Form 2555 with no self-employment income you will be taxed on all income, even when you earn or receive more than the US exclusion amount. As a result, if you do not need the exclusion, you might be better planning for some Expat Tax exclusions.

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