Protax Consulting Services, Inc. Blog Reporting foreign income and filing a tax return when living abroad

The IRS reminds us under Tax Tip 2023-36 that American taxpayers that they must report and pay US income tax on their worldwide income, and can use the Foreign Earned Income Exclusion found on Form 2555 and the Foreign Tax Credit found on Form 1116 to reduce or eliminate their US income tax. Further toThe post Reporting foreign income and filing a tax return when living abroad appeared first on .