You Can Check Out Anytime You Like… But You Still Have to File (Form 2555)
Working abroad does not mean escaping U.S. tax obligations—and for many taxpayers, Form 2555 becomes a critical component of their return. While the foreign earned income exclusion can provide significant tax benefits, the rules governing eligibility and calculation are often misunderstood and incorrectly applied.
This program focuses on the practical application of Form 2555, including determining eligibility under the bona fide residence test and physical presence test, and identifying what constitutes foreign earned income. Participants will also explore the housing exclusion, limitations, and coordination with other tax provisions that impact overall tax liability.
Special attention is given to common practitioner challenges, including partial-year eligibility, travel interruptions, and incorrect assumptions about qualification. The program emphasizes real-world scenarios and practitioner decision-making, helping participants confidently determine when the exclusion applies and how to apply it correctly.
This is a practical guide to using Form 2555 effectively—ensuring compliance while maximizing available benefits for clients living and working abroad.
Learning Objectives (NASBA)
Upon completion of this program, participants will be able to:
-Identify eligibility requirements for the foreign earned income exclusion, including the bona fide residence test and physical presence test.
-Determine what constitutes foreign earned income and evaluate whether income qualifies for exclusion under Form 2555.
-Apply the rules for calculating the foreign earned income exclusion and housing exclusion, including applicable limitations.
-Evaluate common errors and fact patterns that impact eligibility, including partial-year residency and travel interruptions.
-Analyze the interaction of Form 2555 with other tax provisions and its effect on overall tax liability.
Only available for TPP unlimited CE subscribers.
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*Self-Study recording not available for NASBA CPE credit.
IRS Program #: 7Q3WU-T-00886-26
CTEC Course #: 6248-CE-00232
Rita Ryan
,
Esq., LLM
Rita Ryan is the Founder of RRITS and a seasoned Tax Attorney with more than 18 years of experience advising clients on cross-border personal/business taxation, international investment structuring, multi-jurisdictional estate planning, and U.S. tax compliance obligations arising from global activities and holdings. She is widely regarded for her ability to navigate complex international tax regimes and translate evolving regulatory requirements into practical, strategic guidance.
In addition to her client-facing work, Rita serves as a trusted advisor to fellow tax professionals, providing specialized support in identifying international reporting obligations, advising on complex filings, and reviewing workpapers and forms to ensure technical accuracy in an increasingly dynamic international compliance environment.
Prior to founding RRITS, Rita served as Chief Financial Officer and Head of Private Client Services at M+, where she focused on integrated tax, business, and wealth preservation planning for high-net-worth business owners and their families. Earlier in her career, she founded and led Wolf & Co.’s International Tax Services Practice, advising both individuals and entities on the tax planning and compliance aspects of international ownership structures. Rita began her legal career in private practice as an Associate Attorney at Vacovec, Mayotte & Singer, LLP, concentrating on international and domestic taxation, estate planning, and tax controversy matters.
Rita is also an Adjunct Professor in the Graduate Tax Program at Boston University School of Law, where she co-founded and co-teaches the course Foreign Information Reporting and Withholding. In addition, she regularly teaches advanced international tax topics for Tax Practice Pros, LumiQ, and the National Association of Enrolled Agents, contributing to the education of practitioners nationwide.
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