Meeting deadlines for your US tax returns can be difficult for the average American. For expats, there’s an added layer of complexity. You may be facing reporting requirements you had never previously heard of, like FBAR (Foreign Bank Account Reporting) or FATCA (Foreign Account Tax Compliance Act) Form 8938. Many expats are unaware of their continued requirement to file taxes when they move abroad, and once they find about their newfound tax non-compliance, they rely on an extension in order to get back on track. So, we’ve created a thorough, free guide to navigating deadlines and extensions for US tax returns as an expat.
Which Deadlines Does the Guide Cover?
Once you’ve downloaded our free guide, you’ll find out how to traverse the deadline system for US tax returns with ease. From how the deadlines are set to when and how estimated tax payments are due, you’ll have all the information you need to timely file from here on out. And, if you are going to miss a deadline, you’ll learn about how penalties and interest will be applied to your tax liability, but also how Greenback can help you to file an extension for free so you stay compliant.
The deadlines can differ for expats depending on their specific situations. For instance, to qualify for the final extension to December 15, you need to send a letter to the IRS demonstrating that your circumstances were extenuating. Perhaps you are waiting for final financial documentation from your resident country in order to accurately complete your taxes, or maybe a natural disaster has prevented you from having access to tax documents. The IRS could consider these situations qualifying for an additional extension.
What Will I Learn About Extensions for US Tax Returns?
Extensions are another topic covered in our free guide. Will you need to complete Form 4868 or Form 2350 in order to get the extension that is best for your situation? And how exactly does the automatic extension work? When will you find out if your extension was approved? (Spoiler alert: you won’t – the IRS only contacts those whose extensions are denied.) Where do you send your extension application forms? (The answer to that depends on whether or not you’re making a payment.) Even if you could otherwise file your US tax returns by the deadline, should you still obtain an extension if it allows you to qualify for a money-saving exclusion? The answer to these questions is spelled out plainly in our guide, which can save you hours of online research.
For expats who owe taxes, estimated payments are often required in order to avoid underpayment penalties when their Federal Tax Returns are due. Our guide will show you how to determine whether or not you will be required to pay estimated taxes, when the payments are due, and how to pay them. Paying estimated taxes promptly not only saves you a headache when taxes are due but can also save you money since you won’t face those costly penalties!
Want to Skip the Research and Still Become Tax Compliant?
Greenback accountants can save you time and money. We are experts in finding exclusions, deductions, and credits that save you money, and also known for unearthing little-known solutions to expat tax problems. Think you’re going to miss the deadline? Get started with Greenback today and we will help you file an extension for free.