Wednesday 12th June 2013

IRS deadline June 17th

For the majority of US citizens, the IRS tax return filing deadline is the 15th April. However, U.S. citizens and resident aliens who are currently living and working abroad have been granted a two-month extension on the deadline; this extension will end on Monday the 17th June.

If you are a US expat who has still yet to file your IRS tax return and wish to take advantage of the automatic extension, you must attach a statement to your return that explains their current living and working circumstances. Regardless of where in the world you live, you will be required to provide full details of your worldwide income, which includes income from foreign trusts and any foreign accounts you hold.

The majority of expatriates will need to complete Schedule B, although you may also be required to fill out and attach Form 8938, Statement of Foreign Financial Assets, to your return if the aggregate value of your investments exceeds certain thresholds. You can learn more here: Statement of Foreign Financial Assets.

You should be aware of the fact that the Form 8938 is part of your tax return and completing and returning the details does not exempt you from the FBAR filing obligations, the latter of which is required by June 30th.

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