With the June deadline for your US expat tax returns less than three weeks away, you may be in the middle of a scramble to finish your expat taxes! If you need some extra motivation, we’ve got you covered. Read below to find out why meeting the deadline is so crucial for expats.
1: Interest Is Already Accruing
Yes, expats automatically receive an extension to June 15th to file their US expat tax returns. And it’s also true that expats can request an extension until October. But if you end up owing money to the IRS, interest on that amount has been accruing since April and will continue to accrue until you file. Meeting the June deadline can mean more money in your pocket.
2: One Less Form You’ll Need to Fill Out
Expats already have an ultra-complex tax filing process to manage. If you want to wait until the October deadline to file, not only will you open yourself up to the possibility of paying more in interest, but you’ll also have to file for that extension. The extension is granted if you submit the form, but who has time for extra forms and paperwork? Not the expats we know. Greenback accountants are here to help make the process hassle-free by turning in all the paperwork for you.
3: Most State Taxes Follow the Federal Deadline
Expats who moved from certain states, called “sticky states,” may need to file a state tax return as well. Some states are more lenient than others, but it’s best to avoid as much interest as possible. The best option is to consult with an accountant who specializes in this type of tax so that you can be sure you are filing the right forms, you aren’t overpaying, and your taxes are correct.
Ready to Get Started?
Greenback Expat Tax Services employs accountants who are experts in the field of US expat tax returns – and many of them are expats themselves! Get started with Greenback today, so that you’re confident your taxes are correct.