July 2020 - Monthly Newsletter

Please find below this month's newsletter.

This month's newsletter discusses this year's July 15 filing deadline and your ability to file an extension if you need extra time.

Key Upcoming Federal Filing Due Dates for Individuals:

As explained in our previous newsletter, filing deadlines have been moved to July 15 in response to the coronavirus pandemic.

The 2019 income tax filing and payment deadlines for all taxpayers who file and pay their federal income taxes on April 15, 2020, are automatically extended until July 15, 2020. This relief is automatic, taxpayers do not need to file any additional forms or call the IRS to qualify.

Filing taxes should be simple, whether you're at home or abroad.

With Expat Tax Professionals, we make filing a snap anywhere in the world.

This Month's Top 3 Tax FAQs

Question #1 – Will the IRS automatically accept an expat’s request for a tax return extension from July 15 to October 15?

Answer – Yes.

As discussed in our previous newsletters, this year's filing deadeline was moved from April 15 (or June 15 in the case of U.S. citizens living abroad) to July 15, 2020. If your extension request form is timely filed by July 15, the IRS will automatically grant you an extension to file your income tax return until October 15.

Question #2 – Does an extension to file also mean an extension to pay tax?

Answer – No.

If you owe tax, the extension to October 15 applies only to the tax return filing and not to the tax payment obligation. Therefore, you must still submit your payment to the IRS by July 15 to avoid paying interest on your late payment.

Late payment penalties also do not commence until July 15.

Question #3 – Is October 15 the absolute last date for an expat to timely file his or her tax return?

Answer – Not necessarily. 

In certain cases, a further extension may be granted by the IRS if, for good reason, October 15 does not provide sufficient time to file the tax return. An Expat Tax Professional should be consulted to discuss this extension option.

Expat Tax Professionals Featured in the Media

This month's expat tax blogs.