Alabama Form 2555 2024-2025

Alabama Form 2555: What You Should Know

Form 952 Information about the new Alabama 952 for the foreign earned income tax credit Mar 19, 2025 — State of Alabama Department of Revenue has issued guidance on how to calculate the new Alabama's Form 952 foreign earned income tax credit (FedEx). Read the Guidance Notice here. Form 952 Information for Residents State of Alabama Department of Revenue (FOR) issued guidance to clarify how to calculate FedEx for residents who file with the Alabama State of Revenue. Read the Guidance Notice here. Alabama State Tax Form 952 for Nonresidents State of Alabama Department of Revenue (FOR) and The Taxpayer's Bureau issued guidance to clarify how to calculate the FedEx in the Alabama State of Revenue and The Taxpayer's Bureau's Individual Income Tax Return. Read the Guidance Notice here. What is the Alabama Foreign Earned Income Exclusion?  Federal tax law gives foreign income tax-exempt status to income from sources other than U.S. sources. This includes all foreign income earned within your home country. Income earned by you abroad is included in your  Alabama Statutes. Article 11, Section 5(a)(6), Code of Alabama, gives residents of Florida the same tax benefits as any Alabama resident. Alabama's income tax laws do not apply in foreign countries where the income does not qualify for the FedEx exclusion, and state tax laws may not apply. The FedEx exclusion is available to U.S. citizens, U.S. resident aliens, foreign residents of Alabama, and U.S. residents domiciled in Alabama. The FedEx exclusion, however, is available only if you are a U.S. citizen, a resident alien, or a foreign resident of Alabama. You don't get the FedEx exclusion if you receive the same income from other income sources or if you are a resident of another country and do not meet the residency test for Alabama. This is true even if you are filing a joint return with a spouse from another country. What is the FedEx exclusion? The tax exclusion is available for nonresident aliens and some foreign residents. It is limited to the least of: 10% of your Adjusted Gross Income (AGI), or your modified adjusted gross income (MAGI). As stated above, AGI is generally your total adjusted gross annual income before any net operating loss carryovers.

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