Tax Deadline! Americans Living Abroad

The deadline to file IRS Form 4868 for personal taxes was back in April; however, if you are a U.S. citizen or a resident foreigner living outside the country, you were granted an automatic 2-month extension to file your taxes without submitting anything. And today, June 15, is the end of that extension period.

No matter how far you venture beyond the U.S. and its continental borders, you are still required by law to file an American income tax return – even while living abroad.

Along with the requirement to file, you could also be distinctively eligible for the Foreign Earned Income Exclusion. With these IRS resources, you can determine if you’re affected by the tax benefit and how conditions may apply.

• International Taxpayers–Foreign Earned Income Exclusion – An explanation of the tax credit including who is eligible and how to claim
• International Taxpayers–Individual Taxpayer Identification Number (ITIN) – Instructions on how non-U.S. citizens can determine if they need an issued tax reporting number from the IRS and how they can receive one 
• International Taxpayers–Filing Requirements – A list of requirements to file a personal income tax return while living aboard

Important Reminders:
Any worldwide income, like revenue from a foreign trust, bank, or securities account, is required by federal law for U.S. citizens and non-U.S. residents to report. Within IRS Form 1040, Part III of Schedule B, it asks about these foreign accounts, where you’ll need to list each country hosting the account.

You may also need to report foreign financial assets – especially if your assets’ aggregate value exceeds maximum thresholds. You can complete and attach IRS Form 8938 to your income tax return to successfully report these amounts. With the Foreign Account Tax Compliance Act (FATCA), the IRS requires financial assets outside of the United States to be declared with Form 8938.

Living abroad is often considered as a once-in-a-lifetime experience. Don’t let that treasured experience become a sullied nightmare by falling out of compliance with the IRS. And if you ever find yourself back stateside, remember you can file a personal tax extension by April 15 each year to get six months of extra time to file.

With ExpressExtension.com, all you need to do is enter your basic personal information, confirm any owed taxes, choose an IRS payment method if necessary, and transmit directly to the IRS – you can e-file and get quickly approved in minutes. Feel free to contact our live, U.S.-based customer support at (803) 514-5155, Monday through Friday, from 9 a.m. to 6 p.m. EST. We’re also available 24/7 through [email protected].