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A U.S. citizen living abroad is still required to file an annual Form 1040 tax return and pay taxes on their worldwide gross income. However, they might be eligible to exclude their foreign earned income from gross wages.
In this video, I cover a simple example where a U.S. citizen moves to a foreign country on a temporary work permit, and is eligible to file Form 2555 with his tax return to exclude his salary from U.S. taxable income.
Here are some additional videos covering issues for U.S. expats:
Form 2350 (Additional Extension): • IRS Form 2350 Extensio...
Form 673 (Withholding Exemption): • How to Complete IRS Fo...
Form 8938 (Foreign Assets): • How to Complete IRS Fo...
FBAR FinCEN Form 114: • How to Fill Out FBAR (...
Taxes on Foreign Income: • Do I Pay U.S. Taxes on...
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#Form2555 #FEIE #ForeignEarnedIncomeExclusion