Form 2555 vs Form 1116: Which Foreign Income Tax Benefit is Right for You?
If you are a U.S. citizen working abroad, one of the biggest tax questions you will face is between filing Form 2555 v/s Form 1116.
For a US expat, it is important to understand the difference between these two forms to save thousands of dollars in taxes. However, choosing the right one will depend on the income type, foreign tax situation, and plans.
