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Revision history for this page on the wikienMediaWiki 1.13.3Tue, 03 Nov 2026 01:55:24 GMTSimmersDeacon761: New page: Expatriate Tax Preparation and Understanding Exclusion of Foreign Earned Income [http://groups.diigo.com/group/gtwwmxcothstynvifmvo/content/some-applying-for-grants-retiring-to-a-expatri...
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<p>New page: Expatriate Tax Preparation and Understanding Exclusion of Foreign Earned Income [http://groups.diigo.com/group/gtwwmxcothstynvifmvo/content/some-applying-for-grants-retiring-to-a-expatri...</p>
<p><b>New page</b></p><div>Expatriate Tax Preparation and Understanding Exclusion of Foreign Earned Income<br />
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[http://groups.diigo.com/group/gtwwmxcothstynvifmvo/content/some-applying-for-grants-retiring-to-a-expatriate-destination-to-be-a-single-individual-5040042 employment externalization] There's much confusion about what constitutes foreign earned income with regards to the residency location, the location where the work or service is performed, and the supply of the salary or fee payment. Foreign residency or extended periods abroad of the tax payer is really a qualification to prevent double taxation.<br />
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Moreover, foreign source income is for services performed away from U.S. If a person resides abroad and is employed by a company abroad, services performed for that company (work) while traveling on business within the U.S. is considered U.S. source income, and is not subject to exclusion or foreign tax credits. Additionally, passive income from a U.S. source, for example interest, dividends, & capital gains from U.S. securities, or U.S. property rental income, can also be not susceptible to exclusion.<br />
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Conversely, earned income abroad, and passive income from foreign securities, rental, or any other activities abroad, can be excluded from U.S. taxable income, or foreign taxes paid thereon, can be used as credits against U.S. taxes due.<br />
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Basically, the IRS recognizes that income earned abroad is taxed by the resident country, and could be excluded from taxable income by the IRS if the proper forms are filed. The source from the income salary taken care of earned income doesn't have bearing on whether it is U.S. or foreign earned income, but rather in which the work or services are performed (as in the example of a worker employed by the U.S. subsidiary abroad, and receiving his pay check in the parent U.S. company from the U.S.).<br />
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So, Who Qualifies for Exclusion?<br />
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Truth be told there are two ways for expatriates to qualify for exclusions of foreign earned income:<br />
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The most easy way is to file for a special form whenever during the tax year for postponement of filing that current year until a complete tax year (usually calendar) has been completed in a foreign country because the taxpayers principle place of residency. This really is typical because one transfers overseas in the middle of a tax year. That year's tax return would simply be due in January following completing the following twelve month abroad after the year of transfer.<br />
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The 2nd strategy is to be overseas any 330 days in each full Year abroad. These periods can overlap in the event of an incomplete year. In this case the filing due date follows the conclusion of every twelve month abroad.</div>Wed, 25 Apr 2012 13:27:42 GMTSimmersDeacon761http://beta.aalf.org/wiki/index.php?title=Talk:SimmersDeacon761