We Know How!
If you’re a U.S. citizen or resident living and working abroad, you may be eligible for the Foreign Earned Income Exclusion, which can significantly reduce your taxable income. At PLR, we help expatriates and those with foreign residency navigate this valuable tax benefit to minimize their U.S. tax liability while staying compliant with IRS requirements.
The Foreign Earned Income Exclusion allows you to exclude a portion of your foreign-earned income from U.S. taxes. However, eligibility requires meeting specific criteria, such as the Bona Fide Residence Test or the Physical Presence Test. Your PLR team will assess your situation, determine your eligibility, and guide you through the process of filing Form 2555 to claim the exclusion.
Beyond the basic exclusion, we also help clients take advantage of related benefits like the foreign housing exclusion, which can further reduce your taxable income. Our team ensures that your filings are accurate, complete, and submitted on time to avoid any IRS scrutiny.
Living abroad presents unique tax challenges, but with PLR’s expertise, you can manage your U.S. tax obligations with ease. Let us help you make the most of the Foreign Earned Income Exclusion and maximize your savings.
