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What is the IRS form 2555?

Updated: 9/15/2023
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14y ago

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IRS form 2555 is used by Americans working abroad as they can exclude their earnings (the amout is changed every year) per year from their US taxable income. This limit for 2009 is $91,400. To qualify for the foreign earned income exclusion, he must: * Work and reside outside the United States. * Meet either the Bona Fide or Physical Presence tests. * Bona Fide Test: if he resides in that country for "an uninterrupted period that includes an entire tax year" * Physical Presence tests : You are considered physically present in a foreign country (or countries) if you reside in that country (or countries) for at least 330 full days in a 12-month period. You can live and work in any number of foreign countries, but you must be physically present in those countries for at least 330 full days

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Q: What is the IRS form 2555?
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