Foreign Earned Income: Form 2555 Exclusion
Navigating Tax Treaties, Social Security Totalization Agreements
Course Details
- smart_display Format
Live Online with Live Q&A
- signal_cellular_alt Difficulty Level
Intermediate
- work Practice Area
Tax Preparer
- event Date
Thursday, November 6, 2025
- schedule Time
1:00 p.m. ET./10:00 a.m. PT
- timer Program Length
110 minutes
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BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.
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BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).
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This course will provide tax advisers and preparers with an in-depth review of complex income tax considerations related to Americans working abroad. The panel will explore eligibility, including the required tests to qualify for income and housing exclusions, preparation of Form 2555, Foreign Earned Income.
Mr. Jagust is a Managing Director in our Chicago Wealth and Human Capital Services Tax Business Line and specializes in Global Mobility Services. He has significant experience advising clients ranging from start-ups to large multinational companies on US tax, social security and mobility policy strategy for internationally mobile employees. Working across a range of industries, Mr. Jagust also provides advice and guidance on assignment, tax and mobility policy, program management, international compensation and benefits and employment taxes issues.
Mr. Strohl specializes in international U.S. individual income taxation issues as related to individual U.S. expatriates and nonresident aliens or foreign nationals, serving individual clients as well as the employees of employer-sponsored programs of multinational public, non-profit companies and professional firms. He is a member of the AICPA and NYSSCPA’s International Taxation Committee and Taxation of Individuals Committee, and a regular contributor to the NYSSCPA’s “The Trusted Professional” and blog publications. He is featured internationally including his Published main articles in the critically acclaimed Thomson Reuters’ twice-monthly newsletter publication Practical International Tax Strategies. His industry benchmark authoritative executive summary tax articles found at: https://www.protaxconsulting.com/article/ regarding U.S. Expatriate and Foreign National-Nonresident and/ or Resident Alien tax are world renown and standard issue at the big 4 to staff and clients.
Qualifying U.S. citizens and residents working outside the U.S. may exclude a portion of their foreign earned income under Section 911. Also, qualifying individuals may elect to exclude an amount for housing from taxable income.
Tax advisers should carefully evaluate potential tax benefits from electing the foreign earned income and housing cost exclusions or deductions. Applying U.S. and foreign Social Security rules is particularly complex, especially concerning totalization agreements. Advisers must consider the initial election and analyze the realistic prospects of utilizing excess foreign tax credits.
Listen as our experienced panel explores filing Form 2555, Foreign Income Exclusion, including eligibility and applying for recently released relief for individuals affected by the pandemic.
I. Review of foreign earned income exclusion
II. Tax home test
III. Bona fide residence test
IV. Physical presence test
V. Housing cost exclusions or deductions
VI. Completing Form 2555
VII. Issues with foreign tax credits
VIII. Discussion of Form 114 FBAR and Form 8938 FATCA compliance
IX. Social Security and totalization agreements
The panel will review these and other key issues:
- Eligibility for the foreign earned income and housing exclusions
- Complying with requirements for housing cost exclusions and deductions
- Planning with foreign tax credits
- Comprehending Social Security totalization agreements
Learning Objectives
Upon completing this webinar, you will be able to:
- Determine eligibility for the foreign earned income and housing exclusions
- Identify foreign tax credits available
- Differentiate among the tax home test, bona fide residence test, and physical presence test
- Comprehend Social Security totalization agreements
- Verify that taxpayers need to file Forms 8938 and FBAR Form 114
- Field of Study: Taxes
- Level of Knowledge: Intermediate
- Advance Preparation: None
- Teaching Method: Seminar/Lecture
- Delivery Method: Group-Internet (via computer)
- Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
- Prerequisite:
Three years+ business or public firm experience preparing complex tax forms and schedules, supervising other preparers or accountants. Specific knowledge and understanding of international taxation including residency determination, foreign entity classifications, application of treaty benefits, as well as GILTI, Subpart F, and the related Section 250 deductions.
Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.
Strafford is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).
