U.S. citizens and residents generally pay U.S. tax on their worldwide income. U.S. law provides for both a foreign earned income exclusion and a foreign tax credit to mitigate double taxation. This class reviews both mechanisms in-depth and discusses strategies for determining which is the optimal strategy.

Learning Objectives

  • Define the requirements for qualifying for the foreign earned income exclusion.
  • Identify how to elect or revoke the foreign earned income exclusion.
  • Define the requirements for qualifying for the foreign tax credit.
  • Compute the foreign earned income exclusion and foreign tax credit.
  • Analyze how to select the best mechanism for offsetting U.S. tax.

Your registration includes 2 IRS CE as well as:

  • Downloadable course manual and implementation tools as appropriate. These materials are available for download when you log into the webinar.
  • The opportunity to listen to the optional presenter and the other members of the Compass Tax Educators instructional team during the optional question-and-answer session held during the original recording.

Prerequisite: None

Advanced Preparation: None

Program Level: Basic

IRS Program Number for Self-Study On-Demand Webinar: NMVBP-T-00146-20-S

Delivery Method: Self-study/On-demand

Field of Study: Federal Tax Law (IRS)

Credit hours: 2 IRS

Instructor: Thomas Gorczynski, EA, CTP, USTCP Click here to learn more about the instructor

All continuing education credit is provided through Gregory & Associates, Inc. which is doing business as Compass Tax Educators. Click here for more information regarding our education policies.

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