It’s official: the 2018 tax season begins January 29th. This date marks the earliest point when the IRS will start accepting completed tax returns. Expats have additional hoops to jump through before filing, so make sure you have the information you need to get through this tax season without a hitch!
Why January 29th?
If you follow tax news closely, you may have heard the speculation about an earlier tax season opening date, which was wholly inaccurate. The late date this year can be attributed to a number of factors, including the IRS taking time to confirm the security of their systems as well as to evaluate potential changes to 2017 returns resulting from tax legislation.
Though both paper and electronic returns will be accepted starting January 29th, the IRS has noted that the electronic filings will be dealt with first. So if possible, consider e-filing so that you can receive any refund you are owed as soon as possible!
Important 2018 Tax Dates for Expats
The 2018 expat tax filing deadlines will be important to remember in the coming months. The tax filing deadline this year is Tuesday, April 17th. Since the typical deadline of April 15th falls on a Sunday, the date would typically be pushed to Monday. But in 2018, Emancipation Day will be observed on Monday the 16th, moving the deadline to Tuesday, the 17th.
Since expats receive an automatic two-month extension, the deadline to file for expats this year is June 15th. However, remember that any tax owed starts accruing interest by the April 17th deadline. Expats can file for an additional extension, and in that scenario, the final tax filing deadline is October 15th, which includes FBAR and FATCA.
With all of the changes to expat taxation this year, being prepared in advance is a great idea! Although the IRS will not process returns until January 29th, you can begin gathering documents and working with an accountant right away if you wish.
Greenback Expat Tax Services can help ensure you are ready to traverse the new tax landscape. Contact us today to get started on a hassle-free year of expat tax preparation!