Assisting Taxpayers Working Abroad
2 CPE for AFSP, EA, CFP®, CPA, CRTP
To mitigate potential double taxation, §911 provides qualifying U.S. citizens and residents a foreign earned income exclusion and a foreign housing deduction or exclusion. This session will focus on determining the taxation of foreign-earned income and how to benefit from income exclusions, exemptions and credits. We will explore the tax implications of working abroad and understand the forms needed to file the taxpayer’s return correctly.
Objectives
Upon completion of this session, you will be able to:
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Summarize the filing requirements for U.S. citizens living outside of the U.S.
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Determine if certain U.S. taxpayers may claim the foreign earned income exclusion
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Use the foreign tax credit to mitigate the effects of double taxation and reduce the U.S. tax liability of eligible taxpayers
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Advise U.S. taxpayers of tax and reporting regulations that apply specifically to those living abroad, including foreign account and foreign assets reporting
CPE information
Duration: 100 minutes
Course level: Intermediate
Prerequisite: Basic understanding of individual income tax
Advanced preparation: None
Delivery method: Group Live
