Genesis Tax Consultants

Copy of Reporting Foreign Earned Income to the IRS | Members Page

How to report foreign earned income to the Internal Revenue Service and how to resolve previous years tax returns if returns not filed. 

 

Reporting Foreign Earned Income to the IRS

IRS-Form-2555.jpeg

foreign earned income filing requirements

If you are a U.S. citizen or resident alien, you are subject to U.S. income tax on your income, regardless of where you are living or where you received the income. While foreign income is not subject to U.S. tax if you meet certain specific time requirements outside the U.S., you still need to report the income on your personal income tax return. 

The only method to exclude any foreign income from U.S. tax is to file a tax return and claim the foreign earned income exclusion.  It is possible to pay no tax on foreign earned income for as many years as you choose to live out of the U.S. by meeting certain time requirements for being outside the U.S. and filing the correct IRS forms. 

It is also possible to offset U.S. income tax by applying the The Foreign Tax Credit for any taxes paid to a foreign country. 

Please contact me (Nick) and I will help get your taxes squared away. 

 
 
Nicholas Hartney, LLC BBB Business Review

Click on Image to Verify Professional License through the IRS Preparer Directory Search: Country: Germany Zip: 65812 Last Name: Hartney  

Click on Image to Verify Professional License through the IRS Preparer Directory

Search: Country: Germany Zip: 65812 Last Name: Hartney  





➤ locations served

Available for all taxpayers in every state and all Expatriates living abroad. 

CONTACT NICHOLAS HARTNEY, EA

nick@genesistaxconsultants.com
 

 

Areas of Practice


expat tax preparation 

Foreign earned income and housing exclusions for both federal and state income tax returns. Foreign bank account reporting (FBARs), Statement of Specified Foreign Financial Assets, Tax Treaties, Application for IRS Individual Taxpayer Identification Number,etc.


business tax debt representation 

We will file a power of attorney with the IRS and State Taxing Authority to negotiate a hold on all enforcement action such as bank and account receivable levies while we work on an appropriate resolution including Installment Agreements, Company Restructuring, Penalty Abatements, Offer in Compromises, and Currently Not Collectible Status.  We will also advise you if bankruptcy is an option. 


irs and state tax debt representation 

We will file a power of attorney with the IRS and State Taxing Authorities to negotiate an appropriate resolution for back tax debt including Installment Agreements, Penalty Abatements, Offer in Compromises, Innocent Spouse Requests, and Currently Not Collectible Status.  We will also advise you if bankruptcy is a option. 
 


new business entity formation 

We will educate you of the pros and cons of organizing an Limited Liability Company versus a Corporation, S-Corp., Limited Partnership, etc. and assist in the formation of the entity of your choosing.   


previous years tax returns

We will prepare your previous years tax returns to bring you back into compliance with the IRS and State. 


business tax return preparation 

Whether you have a sole proprietorship with a Schedule C or a 1120 Corporate return we will prepare any business return.  

 
 

 
 
The hardest thing in the world to understand is the income tax.
— Albert Einstein, physicist
 
 

 
 
 

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