The U.S. tax code is set up to be a progressive system. In other words, the more money that you make the higher percentage of your income that you pay in taxes. This is meant to give the lower paid individuals a break. That what worries me the most. In the past the IRS has realized that the 2555 will make your taxable income look like you are earning below the poverty level. A lot of those credits I can't claim for obvious reasons. TurboTax will let you know. This time the work sheet even pulls info from the 2555 and uses them in the calculations for the credit.I read the rules and I've run this thing 4 times in turbotax and two time manually and I come up with a 546 refund everytime, without paying any taxes this year.Still, I feel like this should not be happening.
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