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Preparing Form 2555

 

 

Course Year: 2013
Course Level: Basic
Prerequisite: None
Advance Preparation: None
Delivery Method: Self-Study

CPE Credits Designation Field of Study
IRS * 2 EA Federal Tax Law Topic
NASBA 0 CPA N/A
CTEC 2 CRTP Federal Tax Law Topic
CFP Board 0 CFP® N/A

 

* NATP will report CPE credits to the IRS for all PTIN holders. CPE is currently not mandatory for RTRPs or RTRP candidates and any option to register or participate in this program is strictly voluntary.

 

Fees: $46 for Members and $56 for Nonmembers

Summary

As the world shrinks and businesses enter into transactions around the world, an increasing number of people work abroad. Whether the taxpayer is a U.S. citizen or resident, he or she is taxed on worldwide income. However, §911 provides an exclusion for a taxpayer’s foreign earned income and housing, whether employed or self-employed. Tax professionals must understand the requirements and exceptions related to this exclusion.

Objectives
Upon completion of this course, the tax professional will be able to:

  • Determine who qualifies for the foreign earned income exclusion.
  • Determine who qualifies for the foreign housing deduction or exclusion.
  • Complete Form 2555, Foreign Earned Income.
  • File a return for a taxpayer who expects to meet the requirements but has not as of the year-end.
  • Plan for the impact of special situations, such as boycotting countries and military spouses.

For more information regarding refund, complaint and/or program cancellation policies, please contact our Member Services Department at 800.558.3402, ext. 3.

CPE Sponsor Information

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PO Box 8002, Appleton, WI 54912-8002 Phone: 800.558.3402 Fax: 800.747.0001

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