Whether here or overseas, US taxpayers face a myriad of issues and must contend with countless special forms. This course will help the practitioner assist American clients as they live, travel and work abroad. Topics will include foreign earned income and foreign housing credits and deductions, the foreign tax credit, information for military personnel, inter-agency cooperation, and tax avoidance schemes.
Upon completion of this course, you will be able to:
- Understand that US citizens living outside of the US have filing requirements comparable to citizens and residents living in the US.
- Determine if certain US taxpayers may claim the foreign earned income exclusion.
- Correctly calculate the housing exclusion for employer-provided housing, as well as the housing deduction if the taxpayer is self-employed.
- Use the foreign tax credit to mitigate the effects of double taxation and reduce the US tax liability of eligible taxpayers.
- Advise US taxpayers of tax and reporting regulations that apply specifically to those living abroad, including foreign account and foreign assets reporting.
This Course Counts for 2 Hours of Federal Tax Law for IRS Continuing Education.
Monica Haven is an enrolled agent with J.D. and LL.M. degrees in law and taxation. She is a nationally recognized speaker and a sought-after guest lecturer on college campuses and at community organizations. She loves to teach and welcomes every opportunity to share her experience and expertise in the classroom, even as she maintains her Southern California tax practice which serves clients throughout the world.