With the April 18th Deadline Weeks Away, Is It Time to Panic?
As with most years, this year’s tax deadlines seem to be approaching faster than you can say “Uncle Sam.” A quick review of the filing deadlines, however, should help U.S. expats understand that it’s not yet time to push the panic button.
2016 Tax Return Deadline
U.S. expats are generally required to file their returns by April 15th of the following year, just like U.S. residents. Due to a national holiday, the April 15th due date for the 2015 tax return is moved to April 18, 2016.
However, if you live outside the U.S. on April 15th, you are entitled to an automatic extension (without the filing of an extension form) until June 15th. It should be noted that if you owe tax, the extension applies only to the tax return filing and not the tax payment. Therefore, you must still submit your payment by April 15th to avoid paying interest (late payment penalties do not commence until June 15th).
Aside from the June 15th extension, an automatic extension can also be filed resulting in additional time to file until October 15th. Due to October 15th falling out on a weekend, the extension due date for the 2015 tax return is moved to October 17, 2016.
It is best, of course, to try to not to delay and instead prepare your tax return in good time. We can help with filing an extension, if necessary, and preparing your tax return on time. Contact an Expat Tax Professional today and we will get the process started immediately.
By Ephraim Moss, Esq. & Joshua Ashman, CPA