IMPORTANT US EXPAT TAX UPDATE – New 2016 Tax Year FBAR deadline set for April 15 and NOT June 30. However, a maximum extension of 6 months will be available (until October 15). Individuals living outside the U.S. should be able to file on June 15.

 

The new deadline is a result of new legislation voted in on July 31, 2015 and falls in line with the individual income tax return deadline, also on April 15 (one less date to worry about).

Please note the FBAR deadline is a receipt deadline and not a postmark deadline. So make sure you plan accordingly.

Remember,  If you have foreign financial accounts with a combined balance greater than $10,000 you need to report them.

So following up on our last blog, here is the updated Tax deadline schedule:

NEW U.S. Expat Tax Deadlines (2016 Tax Year)

• April 15 – Due date for prior year income tax returns for taxpayers living in the U.S.
• April 15 – NEW Due date for prior year Foreign Bank Account Reports.
• June 15 – Due date for prior year tax returns and to pay any remaining tax due for U.S. taxpayers living abroad.
• October 15 – Final deadline to file individual tax returns for prior year. Last day the IRS will accept electronically filed tax return for the prior year.
• October 16 – Start planning for the next tax year!

Please note that all 2015 U.S. tax filing deadlines remain the same and that the above deadlines will go into effect in calendar year 2017 (for tax and FBAR filing year 2016).

The above dates are accurate at time of publishing our blog.

For further questions regarding the recent FBAR deadline change or other foreign account tax compliance questions, please get in touch.

Additional Resources:

• US Tax Deadline For Citizens Living Abroad
• 7 Tips For Planning Next Year’s US Taxes
• List Of Common U.S. Tax Forms For Expats
• Watch out for our upcoming videos explaining all the 10 US Tax forms in which we explain them in more detail for you.
• Watch our complete US Tax Services Video Series
• Official IRS website

About US Tax Practice GmbH:

US Tax Practice offers U.S. tax services in Switzerland. It is the go-to tax preparation service and compliance practice for U.S. tax payers. Located in Schaffhausen, Switzerland, the company was founded by Patrick Evans, a U.S. tax accountant (CPA) and U.S. citizen determined to work with his clients’ best interests in mind. US Tax Practice GmbH services include U.S. Income Tax Preparation, U.S. Tax Compliance, Foreign Bank Account Reporting (FBAR), Tax Planning and Optimization, and Expatriation.