Ready or not, tax filing season has come! Expats, don’t wait until the last minute to find out what you need to do to file your taxes! Be prepared for the 2019 tax deadline and find out what changes lie in store for expat taxes.
Tax Filing Season Begins Today!
The IRS recently announced that the 2019 tax filing season would begin on January 28th. But what does that mean for expats? This is the first day that the IRS is accepting Federal Tax Returns. So, if you are a part of the group of truly organized folks who are submitting their tax returns today, your reward could be an earlier receipt of any refund owed to you by the government or simply the satisfaction of a full year of not worrying about your expat taxes. And remember: refunds are always issued faster for those who submit electronically.
What About the Government Shutdown?
The government shutdown has ended temporarily, and the previously closed agencies are now resuming regular duties. Depending on what takes place in Congress over the next few weeks, the government may shut down again on February 15th. However, as we reported earlier, the shutdown shouldn’t seriously affect the tax return process this year. As a result of the last shutdown, the IRS already has plans in place for how it will process returns and issue refunds in case the government returns to a shutdown status. In other words, all tax deadlines will remain the same even if another shutdown slows the refund process.
Expats Should Be Aware of These 2019 Deadlines
Monday, April 15th: Not only is this the deadline for filing your Federal Tax Return, but it’s also the deadline for filing FBAR (foreign bank account reports) if applicable. However, taxpayers in Maine and Massachusetts have until Wednesday, April 17th to file their returns because of Patriot’s Day and Emancipation Day, observed on April 15th and April 16th, respectively.
Monday, June 17th: Expats get an automatic extension until June 17th to file; though that can help with expats who are running late, it’s not the best choice in general because interest will start accruing for any taxes owed starting from the April deadline. Also, be aware that June 17th is also the deadline to file for a final extension until October 15th.
Tuesday, October 15th: This is the final day to file expat taxes, as well as FBAR, FATCA, and any other forms and schedules required of you, depending on your specific situation.
Though several options are available for extensions for expats, any tax professional worth their salt would encourage you to get your taxes in early, and that goes double this tax season. With the Tax Cuts and Jobs Act in effect for the first time, filing taxes this year will be more complicated than ever. So gather your documents now if you haven’t already, and don’t let your tax prep fall to the bottom of your to-do list.
Experience the Life-Changing Magic of Getting Your Taxes Done Early
If reading up on the changes to the tax code doesn’t spark joy for you, leave your taxes in the hands of the expat tax experts. We’ll make sure your taxes are accurate and that you don’t overpay. Get started with Greenback today!