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Living Outside the U.S.? You May Still Need to File a Tax Return

TaxAlerts Tax Article

April 2015 | Written by: Charla Woods

While extensive numbers of U.S. citizens and resident aliens work and live overseas during large portions of the tax year, many of these individuals still have IRS tax filing requirements. Like any tax return, the requirements will differ for each individual, depending on their occupation, income, investments, and assets. However, the one consistency is that U.S. citizens, resident aliens, and military personnel working outside the country may be able to receive an automatic 2-month extension, pushing the filing deadline out to Monday, June 15, 2015. If you believe you should receive this particular extension, the IRS does require a statement attached to your tax return explaining why you qualify.

Additionally, the IRS does give U.S. citizens and resident aliens living abroad an opportunity to prepare and file (or e-file) their tax returns for free using IRS Free File. Those with an AGI of $60,000 or less can utilize free tax software and electronically file their tax returns at no cost. For those who exceed an AGI of $60,000, or simply want to fill out the forms themselves, the alternative option is Free File fillable forms, which one can fill out electronically, print, and send in to the IRS. Exchange rates must be reflected on U.S. tax returns as well, with foreign currency translated into U.S. dollars based on the dates when the money was received.

For more information regarding international tax assistance, please visit IRS.gov or contact the IRS for more information.