Global mobility is now routine’and so are the foreign tax surprises that come with it. In Foreign Tax Essentials for U.S. Practitioners: Exclusions, Credits, and Reporting Requirements, you’ll gain practical, real-world guidance on applying the Foreign Earned Income Exclusion and Foreign Tax Credit, avoiding costly compliance missteps, and confidently navigating key reporting rules such as FBAR, FATCA, and expatriation filings. Through clear explanations, planning insights, and practical examples, you’ll strengthen your ability to advise U.S. taxpayers abroad, minimize double taxation, and know when complex situations require specialized expertise.
Learning Objectives
• Identify taxpayers subject to U.S. worldwide taxation and determine residency status under IRC §7701(b).
• Recall IRC §911 requirements for the Foreign Earned Income Exclusion and housing exclusion/deduction and recognize Form 2555 reporting considerations.
• Indicate the allowable Foreign Tax Credit under IRC §§901
• 909 and §904, including limitations, baskets, and carryover rules, for Form 1116.
• Recognize common international reporting requirements (FBAR, Form 8938, expatriation) and evaluate when referral is appropriate.
