Little Rock Arkansas Form 2555 2024-2025

Little Rock Arkansas Form 2555: What You Should Know

The information on this site is provided to assist residents of Arkansas to determine their Federal and Arkansas state income tax liability. For individual taxpayers with limited tax liability, you may be able to claim special credits, such as the child tax credit and earned income tax credit. To claim these credits, you must have earned income, file a Federal Form 2555 and attach a copy of the completed form to your federal income tax return. The forms and instructions for filing Arkansas State Form 2401 or Form 2401-S also list special credits to be claimed in determining your tax liability. Once the amount of the credit claimed is determined, you will be advised whether to file a federal Form 2555 or if the credit should be claimed as a state credit. Arkansas' residents tax liability and credit amounts are limited to the sum of State Tax Deduction up to 500.00, Federal Tax Deduction 500.00, Arkansas Sales Tax Deduction 500.00, and federal credits from other state/federal tax forms. Interest is also charged or accrued on any tax due. Arkansas residency is determined on the last day of the tax year you complete and file forms and instructions using the application available. You must indicate that you reside outside of Arkansas on the application. Arkansas' residents do not need to have a return filed in order to claim Federal and Arkansas credits. Residents who are filing Form 2401 for their 2025 tax year may wish to use the application provided, however residents who claim credit amounts on their original tax returns should file a separate return for each year. Residents who are required to file a tax return for all tax years including those years they did not claim a credit may apply for a waiver from filing the state return. In order for a waiver to be granted, the applicant must obtain documentation of the federal/state tax credit amounts claimed and how they were determined. Residents will be given an opportunity to object on an appropriate form. Waivers are granted without fee. For additional information on credit amounts that require confirmation, such as for the child tax credit, see Tax credits. Form 2555 — IRS Instructions if you have income from both states The IRS does not offer an online tax filing service for residents who have income from both states. For those residents using your Form 2555 and your information from the 2025 Form 1040-ES, have you received a letter stating that your information is correct, and that federal and state tax returns can be filed simultaneously with no additional charge.

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