Tuesday, March 5, 2013

US Ex-pat filing extension

If you are an ex-pat living overseas, you have available an automatic 2 month extension to file AND pay your taxes due, to June 15.  To invoke this extension, you MUST include a statement with your tax return that you are claiming the extension.  If you need more time, you must file a form 4868 before the June 15 deadline but if you want to file for an extension electronically, do it by April 15.  The on-line services won't take an extension request after April 15th.
If you don't believe me, see what the IRS says, click here.

Filing thresholds

People are starting to ask me if they have to file now.  Living outside the US does have a different set of rules but the filing thresholds are the same.  So here they are, if you are below the number for your filing status, you don't have to file:

Filing Status Age Gross Income at least:
Single      < 65  $          9,750
Single     >= 65  $        11,200
Married Filing Jointly < 65 (both)  $        19,500
Married Filing Jointly >= 65 (either)  $        20,650
Married Filing Jointly >= 65 (both)  $        21,800
Married Filing Separately       All  $          3,800
Head of Household     < 65  $        12,500
Head of Household    >= 65  $        13,950
Qualifying Widow(er)     < 65  $        15,700
Qualifying Widow(er)    >= 65  $        16,850