Advice about Foreign Income Exclusion
Advice about Tax Filing & Return for US Expats
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While the regular US tax filing deadline is April 15, if you are a US citizen residing abroad you are automatically entitled to a 2-month extension until June 15th without having to ask for one. By submitting Form 4868 to the IRS, you can ask for an extension until October 15th if you need more time.
It is crucial to remember that the extension is only available for tax return filing. Any tax debt must be paid in full by April 15th, beyond which point interest will start to accumulate on the tax payment that is due.
You can be eligible for foreign earned income exclusions (FEIE) and/or foreign income tax credits if you're a U.S. citizen residing abroad. Both contribute to lowering or eliminating US tax obligations. Publication 54, Tax Guide for U.S. Citizens and Resident Aliens Abroad, is a good resource for further information. The aforementioned article covers particular tax regulations for Americans who work overseas and receive income from other nations.
You can also be eligible for the foreign housing deduction and the foreign earned income exclusion if you fulfill the conditions. If qualified, you can avoid paying any taxes on up to around $105,000 (annually adjusted for inflation) of your income.
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