As the June deadline for filing US expat tax returns approaches, you might find yourself in a rush to complete your tax obligations. If you need some extra motivation to meet the deadline, we’ve got you covered. Read on to discover why it is crucial for expats to adhere to the deadline.
- Accruing Interest is a Reality
It’s true that expats automatically receive an extension until June 15th to file their US expat tax returns. Additionally, they can request a further extension until October. However, if you owe money to the IRS, interest on that amount has been accruing since April and will continue to do so until you file. Meeting the June deadline can help you save more money in the long run.
- One Less Form to Worry About
Expat tax filing is already a complex process to navigate. If you choose to wait until the October deadline to file, not only will you be exposed to the risk of paying more in interest, but you’ll also need to file for an extension. While an extension can be obtained by submitting a form, who has the time or patience for additional forms and paperwork? We understand that expats have enough on their plates, which is why “Expat tax relief” accountants are here to help. They can streamline the process by handling all the necessary paperwork on your behalf.
- State Taxes Often Follow the Federal Deadline
Expats who have relocated from certain states, often referred to as “sticky states,” may need to file state tax returns as well. Although some states are more forgiving than others, it is best to minimize interest payments whenever possible. Consulting with an accountant who specializes in this type of tax can ensure that you file the correct forms, avoid overpayment, and maintain accurate tax records.
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If you’re a U.S. citizen living abroad, it’s crucial to ensure that your tax obligations are met accurately and efficiently. That’s where “Expat tax relief” comes in. As specialists in providing comprehensive tax preparation services for expats, we understand the complexities of U.S. tax laws and regulations. Our experienced team is here to guide you through the process, from preparing your US Individual Tax Returns to handling essential documentation such as FBAR and FATCA requirements for foreign bank account reporting. If you’re self-employed, we can assist you in filing quarterly estimated taxes, attaching Schedule C to the 1040 tax form, and maintaining compliance with the IRS. Our expertise lies in Foreign Earned Income Exclusion tax returns and extension applications (IRS Form 2555), ensuring that you can maximize your tax benefits. Don’t leave your tax matters to chance – consult with the professionals at “Expat tax relief” to navigate the complexities and secure your financial interests.