U.S. Expats: Final Tax Extension Deadline: June 15th

U.S. Expats: Final Tax Extension Deadline: June 15th

Written by Joyce Mohr
CFO2GO Central & Eastern Europe



U.S. Expats: Final Tax Extension Deadline: June 15th

If you have not filed your 2005 tax return or extensions you must act now!

If you are a qualifying internationally-based U.S. Citizen (or have been granted permanent resident status in the U.S.) you are eligible for an automatic 2 month extension to June 15th for filing your tax return and paying any tax due.  When you file your return you must attach a statement to the front of your return saying that you are eligible for the automatic 2 month extension. 

If you are not ready yet to file your 2005 tax return you must file Form 4868 by midnight June 15, 2006 to be granted an extension to October 15, 2006. 

For international residents, the form 4868 should be sent to the following addresses:

Without Payment    
Internal Revenue Service Center
Austin, TX     
73301-0215      

With Payment
Internal Revenue Service Center
P.O. Box 660575
Dallas, TX
75266-0575 USA

You can print this form from http://www.irs.gov/pub/irs-pdf/f4868.pdf.  Be sure to mark the box on line 8.

Interest
The extension is not for payment of your taxes.  Interest will be charged from the regular filing deadline of your return – June 15 for qualifying international taxpayers – on any unpaid tax balance for 2005.  It is irrelevant if you have a “good reason” for not paying on time.

Penalties
Without an extension you will also be charged a late filing penalty. Late filing penalties are half of 1% of any tax (except estimated tax) due past the regular filing deadline. It is nonetheless capped at 25% of the total tax due. Penalties may be waived by attaching a detailed explanation showing “reasonable cause” to your return.  You are considered to have “reasonable cause” if 90% of actual 2005 tax due is paid by the regular due date through withholding, estimated tax payments and by submitting payment with form 4868.

So if you have not acted yet  – do so today!


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