Form 4563: Exclusion Of Income For Bona Fide Residents Of American Samoa

AAA

DEFINITION of 'Form 4563: Exclusion Of Income For Bona Fide Residents Of American Samoa'

A tax form distributed by the Internal Revenue Service (IRS) and used to determine the amount of income earned in American Samoa that can be excluded from a taxpayer's gross income. In order to qualify for this exemption, the taxpayer must be either a resident of American Samoa or conduct business there.

INVESTOPEDIA EXPLAINS 'Form 4563: Exclusion Of Income For Bona Fide Residents Of American Samoa'

When determining what income can be excluded from taxpayers' claims, the IRS focuses on the source of the income. If a taxpayer earns income from outside and inside American Samoa, all wages, salaries or tips from outside are not included in Form 4563. To be considered for exclusion, income gained from interest has to be from a bank located in American Samoa. Dividend income is considered if it is from a company created or organized in American Samoa.

RELATED TERMS
  1. IRS Publication 516 - U.S. Government ...

    A document published by the Internal Revenue Service that details ...
  2. IRS Publication 570: Tax Guide ...

    A document published by the Internal Revenue Service (IRS) that ...
  3. Dividend

    1. A distribution of a portion of a company's earnings, decided ...
  4. Tax Return

    1. The tax form or forms used to file income taxes with the Internal ...
  5. Interest

    1. The charge for the privilege of borrowing money, typically ...
  6. Internal Revenue Service - IRS

    A United States government agency that is responsible for the ...
Related Articles
  1. Taxes

    10 Steps To Tax Preparation

    Follow these simple steps to get you ready for the income tax deadline of April 15.
  2. Retirement

    Tax Tips For The Individual Investor

    We give you seven guidelines to help you keep more of your money in your pocket.
  3. Taxes

    How To Appeal Your IRS Audit

    The auditor's review isn't always the last word. Many taxpayers who are audited can successfully appeal their audits and save thousands of dollars.
  4. Taxes

    Should You File An Early Tax Return?

    When it comes to filing your taxes, it can often pay to wait until the deadline.
  5. Taxes

    The History Of Taxes In The U.S.

    The number of taxes that we now consider a given did not always exist. Find out how they arose.
  6. Taxes

    What are the tax incentives or disincentives to vertical integration?

    Merging companies through vertical integration can provide companies in the United States with a marginally advantageous position in terms of taxation.
  7. Investing Basics

    Are arm's length transactions always better than transactions not at arm's length?

    Transactions not at arm's length have real tax and other consequences for individuals and businesses, but they are not necessarily always worse.
  8. Taxes

    What are the best ways to lower my taxable income?

    Paying taxes is an unavoidable obligation each year, but individuals and business owners can take advantage of various strategies for tax savings.
  9. Fundamental Analysis

    Are taxes calculated in operating cash flow?

    Learn how taxes are involved with the calculations for operating cash flow, and find out about the importance of operational cash flow.
  10. Economics

    EU Probes Tax Laws To Catch Corporate Cheaters

    Recently, the EU has launched an investigation into tax deals between Amazon and the country of Luxembourg.

You May Also Like

Hot Definitions
  1. Weight Of Ice, Snow Or Sleet Insurance

    Financial protection against damage caused to property by winter weather specifically, damage caused if a roof caves in because ...
  2. Weather Insurance

    A type of protection against a financial loss that may be incurred because of rain, snow, storms, wind, fog, undesirable ...
  3. Portfolio Turnover

    A measure of how frequently assets within a fund are bought and sold by the managers. Portfolio turnover is calculated by ...
  4. Commercial Paper

    An unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts receivable, inventories ...
  5. Federal Funds Rate

    The interest rate at which a depository institution lends funds maintained at the Federal Reserve to another depository institution ...
  6. Fixed Asset

    A long-term tangible piece of property that a firm owns and uses in the production of its income and is not expected to be ...
Trading Center