What Expats Need to Know about US Tax Deadlines in 2023
- When Does the 2023 US Tax Season Start?
- When Is the US Tax Deadline for 2023?
- When Are Estimated Taxes Due?
- When Is the US Tax Deadline for Business Taxes?
- When Is the Deadline for FBAR?
- When Is the Deadline for a FATCA Report?
- What If I Can’t File by the Tax Deadline?
- What If I Miss the US Tax Filing Deadline for 2023?
- If You Have Questions Regarding Tax Deadlines, We Have Answers!
For most Americans, keeping track of Tax Day is easy enough. However, for expats, determining when their US taxes are due can be a bit more complicated. To help you stay on top of your tax obligations, we’ve compiled a list of everything expats need to know about US tax deadlines for 2023 (2022 Tax Year).
Key Takeaways
- The standard deadline for Americans living in the US filing a US tax return is April 18, 2023.
- Expats are granted an automatic two-month extension for filing their US tax returns, which extends the US tax filing deadline for expats to June 15, 2023. They may also request additional extensions if needed.
- If you’ve already missed your filing deadline, you may be able to use the IRS amnesty program to come into compliance without paying any fines.
When Does the 2023 US Tax Season Start?
The US tax year is the same as the calendar year—January 1 to December 31. “Tax season” is when the IRS begins accepting income tax returns. The Internal Revenue Service began accepting returns for the 2022 tax year on January 23rd, 2023.
When Is the US Tax Deadline for 2023?
The standard deadline for US residents to file a Federal Tax Return for the 2022 tax year is April 18, 2023. (As the 15th falls on a Saturday). However, for US citizens living overseas, this deadline automatically extends two months to June 15, 2023.
If you need more time to file your expat tax return, you can request an additional filing extension to October 16. In extreme cases, you can even request an extension to December 15.
When Are Estimated Taxes Due?
Some taxpayers must file estimated quarterly tax payments rather than a single annual return. Generally, you will have to file estimated quarterly tax payments if you expect to owe at least $1,000 in US taxes when filing your return. The rules for this are the same for US residents and expats.
The most common categories of taxpayers who have to file estimated quarterly taxes are:
- Taxpayers who are self-employed
- Taxpayers with significant investment or retirement income
- Taxpayers who receive a large windfall, such as from the sale of a major asset
- Taxpayers who receive alimony income
- Taxpayers who receive income distributions from a partnership or S corporation
In addition, expats employed by a foreign business that does not withhold or pay taxes to the US government on their behalf may also need to file estimated quarterly payments.
So what about the deadlines for these payments? The last estimated payment for the tax year 2021 was due on January 17, 2023. Estimated payments for the tax year 2022 will be due on:
- April 18, 2023
- June 15, 2023
- September 15, 2023
- January 15, 2024
When Is the US Tax Deadline for Business Taxes?
The deadline for filing a business tax return depends on how the business is structured. The deadlines for each structure are as follows:
- S corporation: March 15, 2023
- Partnership: March 15, 2023
- Multi-member LLC: March 15, 2023
- Sole proprietorship: April 18, 2023
- Single-member LLC: April 18, 2023
- C corporation: April 18, 2023
If your business operates on a fiscal year rather than the calendar year, the standard filing deadline is the 15th day of the third or fourth month following the close of your fiscal year. If this deadline falls on a Saturday, Sunday, or a legal holiday, the deadline is moved to the next business day.
If you need more time to file a business tax return, you can request an extension. The date for your extension will depend on the structure of the business.
When Is the Deadline for FBAR?
The deadline for FBAR filing is April 18th, 2023. If you miss this deadline, there is an automatic extension to October 16, 2023.
An FBAR is a Report of Foreign Bank and Financial Accounts that must be filed by U.S. taxpayers who have foreign accounts with an aggregate value exceeding $10,000 at any time during the year. The FBAR is not a separate tax form and isn’t reported to the IRS; it’s a report filed electronically with the Department of Treasury using FinCEN Form 114 (formerly TD F 90-22.1).
When Is the Deadline for a FATCA Report?
If you own non-US financial assets valued above certain thresholds, you must file a FATCA report. (The specific threshold will depend on your filing status and whether you qualify as a bona fide resident of a foreign country.)
If you are required to file a FATCA report, you’ll have to fill it out and attach it to your individual income tax return. That means the standard deadline for the FATCA report is the same as your individual tax return: April 18, 2023. Just like with an individual tax return, expats get an automatic two-month extension to June 15, 2023—and can request a further extension to October 16, 2023.
What If I Can’t File by the Tax Deadline?
Most US tax forms allow you to file for an extension if necessary. Plus, as a US citizen living abroad, you probably have specific automatic extensions without even having to request them, such as the automatic extension to June 15 for personal tax returns.
What If I Miss the US Tax Filing Deadline for 2023?
Filing—or paying—late taxes can result in penalties. However, if you already missed the deadline, don’t panic. You probably have options, with the details depending on your situation. Let’s take a look at some of the most common scenarios.
- If you are owed a tax refund, there generally isn’t any penalty for filing late. Still, you should file immediately to comply with the IRS. (You typically have three years from the original filing deadline to claim a refund, so the window for claiming a 2022 refund—due in 2023—would close in 2026.)
- If you owe taxes, the IRS may charge additional interest or even impose failure to file and/or penalties. The good news is that as an expat, you may qualify to file using the IRS’ Streamlined Filing Compliance Procedures. If you do, the IRS will likely waive any penalties you might otherwise be subject to. (This is an amnesty program for expats who weren’t aware they had to file.)
- If you can’t afford to pay the taxes you owe, you should still file as soon as possible. The IRS may agree to let you reduce your tax debt or pay over time through regular installments. (Though in the case of a payment plan, you will still incur interest until the debt is paid off.) Regardless, it’s always better to file.
If You Have Questions Regarding Tax Deadlines, We Have Answers!
Hopefully, this guide has given you a better understanding of US expat tax deadlines for 2023. If you still have questions, we’d be happy to give you the answers. In fact, we can even help you meet your US tax obligations.
Contact us, and one of our customer champions will gladly help. If you need very specific advice on your specific tax situation, you can also click below to get a consultation with one of our expat tax experts.