For U.S. citizens or resident aliens, the rules for filing income tax returns and paying estimated tax are generally the same whether taxpayers are in the U.S. or abroad. All worldwide income is potentially subject to U.S. income tax. For U.S. citizens living oversea, there are additional filing requirements/deadlines that need to be addressed. Please see below for a summary of the most important tax deadlines.
- April 15 – U.S. filing deadline and due date for all taxes owed. The tax deadline for all Americans is April 15th unless that day falls on a weekend or holiday. If the deadline falls on a weekend or holiday, the due date will be the next business day.
- June 15 – Expat filing deadline. The IRS grants expats living abroad an automatic extension on their U.S. expat taxes. The IRS gives an automatic 2-month extension to allow for the time it might take to receive all the necessary foreign documents. However, if there are taxes due, the tax payment still needs to be paid before April 15th to prevent interest from accruing beginning April 15th.
- April 15 – Foreign Bank Account Form is due (aka FBAR or FinCEN Form 114) This form needs to be filed for individuals with foreign bank or financial accounts if the individual or cumulative balances equal or exceed $10,000 at any point during the calendar year. This form is filed to the U.S. Department of Treasury (and not the IRS). This form is now due April 15th for tax years beginning 2016 (to current as of this posting) and there is a 6 months automatic extension to October 15th. The previous deadline was June 30th for tax years 2015 and prior.
- October 15 – Final tax deadline IF taxpayers have already applied for an extension. At times gathering all the necessary documents can take a long time for expatriates living overseas. For this reason, the IRS allows an extension until October 15th as the last deadline. This deadline is only applicable if the taxpayer has previously filed for an extension on Form 4868.
- For calendar year taxpayers, estimated tax payments are due as follows:
◦ 1st quarter April 15
◦ 2nd quarter June 15
◦ 3rd quarter September 15
◦ 4th quarter January 15 of the following year
Taxpayers may also have state or city filing requirements and these deadlines depend on the individual location.