US Expat Tax Return Deadlines

[Artio Partners]

This is another tax season and we would like to remind American expats living in Singapore about upcoming deadlines.

As an American expat residing abroad, you get an automatic extension until June 15, 2012 to file US income tax return. However, any tax that is due for 2011 must be paid in full by Apr 17, 2012 to avoid any interest and penalty assessment.

Many of you heard about FBAR. The form TD F90-22.1 is due by June 30, 2012. This form is filed separately from your tax return. No extension is allowed for this form.

There is another important form FATCA. The form 8938 should be filed with your US tax return. Failure to report foreign financial assets on Form 8938 will result in a penalty of $10,000 (and a penalty up to $50,000 for continued failure after IRS notification).

[zzm9980]

Is that extension automatic, or do I need to file a request for it by April 15th and it will just be auto-approved? June 15th is within days of my 330 day threshold for earned income exemption...

[sundaymorningstaple]

This is another tax season and we would like to remind American expats living in Singapore about upcoming deadlines.

As an American expat residing abroad, you get an automatic extension until June 15, 2012 to file US income tax return. However, any tax that is due for 2011 must be paid in full by Apr 17, 2012 to avoid any interest and penalty assessment.

Many of you heard about FBAR. The form TD F90-22.1 is due by June 30, 2012. This form is filed separately from your tax return. No extension is allowed for this form.

Further information can be found at the following locations to see whether or not you are required to file....

http://www.irs.gov/businesses/small/art ... 49,00.html

There is another important form FATCA. The form 8938 should be filed with your US tax return. Failure to report foreign financial assets on Form 8938 will result in a penalty of $10,000 (and a penalty up to $50,000 for continued failure after IRS notification).

For our US readers, whether or not you are subject to the filing of "Form 8938 (November 2011) Statement of Specified Foreign Financial Assets" can be found at the following location:

http://www.irs.gov/pub/irs-pdf/i8938.pdf

http://www.irs.gov/businesses/corporati ... 61,00.html

Thanks for the reminder but you're just soliciting for clients so bye-bye!

Even though one of the other mods got here first I figured that I might be able to satisfy some curiosity by some of our US readers. I've always done my own taxes for the 29 years I've been here. However, there are several tax services here in Singapore which have been used but I cannot recommend anybody as I personally don't use them at all.....

moderator

[sundaymorningstaple]

Is that extension automatic, or do I need to file a request for it by April 15th and it will just be auto-approved? June 15th is within days of my 330 day threshold for earned income exemption...

It's automatic but you have to apply for it.....

http://www.irs.gov/taxtopics/tc304.html

Thanks for asking as that one slipped my mind as I've never used it.

[zzm9980]

Is that extension automatic, or do I need to file a request for it by April 15th and it will just be auto-approved? June 15th is within days of my 330 day threshold for earned income exemption...

It's automatic but you have to apply for it.....

http://www.irs.gov/taxtopics/tc304.html

Thanks for asking as that one slipped my mind as I've never used it.

Yeah I only need it to his the exemption. Otherwise I'd be spending my refund by now

[Artio Partners]

Is that extension automatic, or do I need to file a request for it by April 15th and it will just be auto-approved? June 15th is within days of my 330 day threshold for earned income exemption...

Dear ZZM9980-

Since you live outside of the USA, you are allowed an automatic 2-month extension until June 15, 2012. Please check this IRS link.

http://www.irs.gov/businesses/small/int ... 68,00.html

If you need an additional extension to Oct 15, 2012, you should file a form 4868.
http://www.irs.gov/pub/irs-pdf/f4868.pdf

[sundaymorningstaple]

It's not totally automatic. If you send it in without an accompanying explanation you won't get it. Automatic means you don't have to do anything. Sending a tax return with an 2555 should qualify for automatic if still out of the country, but no, you must still attach an accompanying statement in order to get the extension. Maybe you should read your link.

How To Get The Extension

To use this automatic 2-month extension, you must attach a statement to your return explaining which of the two situations listed earlier qualified you for the extension.

[Artio Partners]

It's not totally automatic. If you send it in without an accompanying explanation you won't get it. Automatic means you don't have to do anything. Sending a tax return with an 2555 should qualify for automatic if still out of the country, but no, you must still attach an accompanying statement in order to get the extension. Maybe you should read your link.

How To Get The Extension

To use this automatic 2-month extension, you must attach a statement to your return explaining which of the two situations listed earlier qualified you for the extension.

Hello-

We appreciate your point of view. In your original post you provided a link to the form 4868. However, this form should be submitted only if an American living abroad needs an extension to Oct 15, 2012.

The purpose of two IRS links that we provided was to clarify your prior statement. Hope it helps.

[sundaymorningstaple]

Fair enough. So you are still saying it's totally automatic and the taxpayer needs not do anything at all?

Or are you trying to divert the attention to your error in saying it's automatic. Had I not questioned your initial post, someone could well have taken your statement as the gospel and just mailed their return, without a statement, expecting to "automatically" be given an extension. Would you have paid their penalties for failure to file timely?

[Artio Partners]

Fair enough. So you are still saying it's totally automatic and the taxpayer needs not do anything at all?

Or are you trying to divert the attention to your error in saying it's automatic. Had I not questioned your initial post, someone could well have taken your statement as the gospel and just mailed their return, without a statement, expecting to "automatically" be given an extension. Would you have paid their penalties for failure to file timely?

First, we had to correct your statement because it was misleading. Second, the IRS website states "You may be allowed an automatic 2-month extension of time to file your return." Nobody called it totally automatic. You seem to enjoy having the last word about everything so we will put this case to rest. Enjoy the weekend!

[zzm9980]

Is that extension automatic, or do I need to file a request for it by April 15th and it will just be auto-approved? June 15th is within days of my 330 day threshold for earned income exemption...

It's automatic but you have to apply for it.....

http://www.irs.gov/taxtopics/tc304.html

So according to the form 4868 instructions, you only have to file if you need until October 15th. June 15th is automatic, don't even have to ask for it. Not sure if that's what you meant or not.

[zzm9980]

Has anyone ever applied for an ITIN? I'm curious if I can send in the ITIN application with my extension request. It says I'm supposed to send it in with my tax return, but if I file an extension, it asks for spouse's SSN/ITN #...

I may just look for the service of the guy advertising here. TurboTax is proving useless since I don't have the ITIN yet. They tell you to print the form (leaving the field blank) manually to file it via mail with the ITIN W-7, but then they don't let you print it unless you fill something into the field for SSN/ITIN... If you try to file for the extension with their form, you must use a US address. Sigh..

[sundaymorningstaple]

Unless it's changed (just starting to refresh for latest info bits) I've always put my wife as N. R. A. in the SS# field. I've always filed as HH with the kids (I lost the last one last year - for tax purposes anyway) So this year I guess I'm gonna get bit by Married Filing Separately. My wife has never lived in the US and we've never filed a joint US return as she has no US income at all. I've never bothered to get her a ITIN number and probably won't until I decide to up stakes and return to the US.