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Foreign Earned Income: Form 2555 Exclusion

Navigating Tax Treaties, Social Security Totalization Agreements

Note: CLE credit is not offered on this program

Recording of a 110-minute CPE webinar with Q&A

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Conducted on Monday, November 21, 2022

Recorded event now available

or call 1-800-926-7926

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.


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.



  1. Review of foreign earned income exclusion
  2. Tax Home Test
  3. Bona Fide Residence Test
  4. Physical Presence Test
  5. Housing cost exclusions or deductions
  6. Completing Form 2555
  7. Issues with foreign tax credits
  8. Discussion of Form 114 FBAR and Form 8938 FATCA compliance
  9. 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


Lipschultz, Brent
Brent Lipschultz, CPA

Managing Director

Mr. Lipschultz is a Managing Director at NKSFB, LLC with over 30 years of experience in International and Domestic...  |  Read More

Strohl, Marc (new)
Marc J. Strohl, CPA

Protax Consulting Services

Mr. Strohl specializes in international U.S. individual income taxation issues as related to individual U.S....  |  Read More

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