Tax Form 4563 is used by individuals who are bona fide residents of American Samoa and want to claim an exclusion for their income earned in American Samoa on their U.S. federal income tax return.
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Founded year:
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2000
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Country:
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United States of America
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Funding rounds:
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Not set
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Total funding amount:
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Not set
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Description
Tax Form 4563 is specifically for individuals who are bona fide residents of American Samoa. It allows these residents to claim an exclusion for income they earned in American Samoa, meaning they do not have to report that income on their U.S. federal income tax return. The form ensures that residents of American Samoa are not taxed twice on the same income, both by the U.S. and American Samoa. By completing this form, qualified individuals can properly account for their income and avoid paying federal taxes on earnings sourced from American Samoa.
