US Taxpayers Abroad Filing Deadline – Introduction
The IRS has issued a reminder to US taxpayers living and working abroad that their 2024 tax return deadline is approaching.
While most US taxpayers must file by April 15, expatriates have an automatic extension until June 15.
This reminder highlights important compliance issues for Americans earning income overseas.
Filing Requirements for U.S. Expats
US tax law requires citizens and permanent residents to report worldwide income, regardless of where they live.
Expatriates must also comply with additional reporting obligations, including the Foreign Bank Account Report (FBAR) for overseas financial accounts exceeding $10,000.
Foreign Earned Income Exclusion (FEIE) and Tax Credits
Expats may qualify for tax benefits such as the FEIE, which allows eligible individuals to exclude up to a certain amount of foreign-earned income from U.S. taxation.
The Foreign Tax Credit (FTC) also helps mitigate double taxation by granting credits for foreign taxes paid.
US Taxpayers Abroad Filing Deadline – Conclusion
Taxpayers abroad should be aware of their obligations and ensure timely filing to avoid penalties.
The IRS encourages expats to use online tools or consult tax professionals for assistance.
Final Thoughts
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