If you are a US citizen required to file income taxes, here are some of the key dates you need to keep in mind in 2023:
April 18, 2023
- file individual tax return (Form 1040) – for expats, this deadline is automatically extended until June 15, 2023;
- file Report of Foreign Bank and Financial Accounts (FBAR) – definitely do so by October 16, the automatic extension deadline (this applies to any US person whose aggregate value of foreign financial accounts exceeds $10,000 at any time during the calendar year).
Note: Expat children with foreign financial accounts are also required to file FBARs
- to avoid late payment penalties, make a payment of any US tax you owe. Alternatively, if you have sustained a substantial financial loss, file Form 1127, Application for Extension of Time for Payment of Tax Due to Undue Hardship, to request a 6-month extension to pay taxes due (in some cases, the extension may be granted for a longer period).
June 15, 2023
- file Form 1040 or an extension of time to file until October 16, 2023 (extension filed with Form 4868).
October 16, 2023
- file the extended tax return (Form 1040); or
- apply for an additional two-month extension to file Form 1040 until December 15;
- file the FBAR (the October 16 deadline is thanks to an automatic 6-month extension from the previous April; no further extension is possible).
December 15, 2023
- is the final deadline for expats to file 2022 US tax returns (if you have received notification that your request to extend your filing deadline was approved).
2022 Minimum Income Filing Thresholds:
Whether someone must file a federal income tax return depends on their worldwide gross income, filing status, employment status, age and whether they are a dependent (on another US tax filer). The minimum thresholds are as follows:
- $5 if married filing separately (MFS);
- $12,950 if filing single ($14,700 for those 65 or older);
- $19,400 if filing as a head of household (HOH) ($21,150 for those 65 or older);
- $25,900 if married filing jointly (MFJ) ($27,300 if one spouse is 65 or older, $28,700 if both are over 65 years old);
- $25,900 if qualifying widow(er) ($27,300 for those 65 or older);
- $400 for net annual earnings of self-employed individuals.
Also, you may qualify as Head of Household if you are married to a non-resident alien. You are considered unmarried for head of household purposes if your spouse was a non-resident at any time during the year and you do not choose to treat your non-resident as a resident. However, your spouse is not a qualifying person for head of household purposes. You must have another qualifying person and meet the other tests to be eligible to file as a head of household.
Foreign currencies need to be converted to US dollar amounts using the published IRS Yearly Average Currency Exchange Rates.
In addition, some individuals may be required to file a tax return or submit other information/returns even if they earn less than the minimum income for their filing status. It is also important to note that because retirement benefits are not “earned income,” they are not eligible for the Foreign Earned Income Exclusion and, although these payments are usually taxable only in the country of residence, you are/may be required to file a US tax return to report such income.
Source: IRS Pub 501
