Sifting through plus comprehending the US tax code can be an intimidating task. And when you are a US expat, the information is even more complex as well as confusing. We have compiled a list of the top things all expats should keep in mind when filing US taxes for Americans abroad to assist you sort through the multitude of information!
Expats Must File US tax returns If You Have Income, Receive Certain Credits, or else Other Special Situations Apply.
If you’re worldwide profits exceeds the filing porch (which varies by filing status), you must file a US Federal Tax Return each year.
Income includes:
- Wages/Salary from US and non-US sources
- Interest
- Dividends
- Rental Income
If you are freelance, the threshold is four hundred dollar, regardless of filing status. If you are entitled for certain credits as well as refunds, you may want to file even if you do not or else have to file. Certain other circumstances, such as owing special taxes may make you theme to filing requirements as well.
Are you new to filing expat taxes? Get started with the experts. Click here to get matched with an accountant to review your individual circumstances today as well as confirm what you require to file.
Expats obtain an Automatic Tax Filing conservatory until June 15th
US taxpayers living outside the US on the tax deadline of April 15th obtain an extension until June 15th to file. However, any US taxes remaining are due by April 17th to avoid penalties as well as interest.
If you move back to the US, you may still be qualified to use certain US expat deductions and exclusions that year, but you will need to file by April 17th because you are now a US resident.
