A taxpayer qualifies for the special June 15 filing deadline if their tax home is outside the United States and Puerto Rico.
The special June 15 deadline is available to both U.S. citizens and resident aliens abroad, including those with dual citizenship. For those who can’t meet the June 15 deadline, tax-filing extensions are available (form 4868). However they will have to estimate and pay the tax due by June 15. Interest on late payment is currently at 4%, penalty for default filing is more expensive.
Most people abroad need to file an income tax on their worldwide revenues. The filing requirement generally applies even if a taxpayer qualifies for tax benefits, such as the Foreign Earned Income exclusion or the Foreign Tax credit, which substantially reduce or eliminate U.S. tax liability. These tax benefits are only available if an eligible taxpayer files a U.S. income tax return.
Taxpayers who relinquished their U.S. citizenship or ceased to be lawful permanent residents of the United States during 2016 must file a dual-status alien return (1040NR).
The deadline for filing the annual Report of Foreign Bank and Financial Accounts (FBAR) was due by April 18, 2017. However filers missing the original deadline get an automatic extension until Oct. 16, 2017 to file the FBAR.
I created this blog to help understand certain basic aspects of U.S. tax law. Of course, each situation is unique and nothing that is on this site will ever replace the expert advice of a tax professional.
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