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Level 2
August 20, 2022
Solved

FEIE Election and Child Tax Credit

  • August 20, 2022
  • 1 reply
  • 18 views

Hi. I am an expat that recently moved back to the US.  I had elected FEIE while abroad before but now have relocated back to US. I am currently on US based income and won’t need to make Form 2555 election in the near future.

 

My understanding is that FEIE does not need to be formally revoked in moving back to US based income.  However I am expecting a newborn child and was wondering if additional child tax credit can still be claimed if I do not fill in/elect Form 2555 for that year, or would I need to formally revoke FEIE for five years to make the claim? Thanks and much appreciated!

    Best answer by NCperson

    @Dblkings here are the eligibility requirements. there are some tweaks on the credit in 2022 (it goes back to the 2020 rules), but American citizens - parent and child - both with social security numbers are eligble.  there are limitations based on income, but the "Up to $2000" credit is not based on where you live.  (in 2021, the "up to $3600" was dependent on where you lived, but that is moot for 2022 tax year).

     

    https://www.irs.gov/credits-deductions/individuals/child-tax-credit

     

     

    1 reply

    NCpersonAnswer
    Level 15
    August 20, 2022

    @Dblkings here are the eligibility requirements. there are some tweaks on the credit in 2022 (it goes back to the 2020 rules), but American citizens - parent and child - both with social security numbers are eligble.  there are limitations based on income, but the "Up to $2000" credit is not based on where you live.  (in 2021, the "up to $3600" was dependent on where you lived, but that is moot for 2022 tax year).

     

    https://www.irs.gov/credits-deductions/individuals/child-tax-credit

     

     

    DblkingsAuthor
    Level 2
    August 21, 2022

    Thanks very helpful!