IRS reminds U.S. Taxpayers Abroad to File 2023 Tax Returns by June 17
The Internal Revenue Service (IRS) has issued a reminder to all taxpayers living and working outside of the United States that the deadline to file their 2023 federal income tax return is Monday, June 17. This deadline applies to U.S. citizens and resident aliens abroad, including those with dual citizenship.
June 17 Extension Details
U.S. citizens or resident aliens who are either residing overseas or are on military duty outside the U.S. automatically receive a two-month extension to file their tax return and pay any due amounts. To qualify for this extension, taxpayers must be living outside the United States and Puerto Rico or serving in the military outside these areas on the regular due date of their return.
Important Considerations for Filing
Taxpayers must indicate on their return if the extension applies to them by attaching a statement to their tax return explaining their situation. This extension does not grant additional time to pay taxes owed, so all due taxes should be estimated and paid by June 17 to avoid penalties.
Further Extensions and Special Instructions
Those unable to meet the June 17 deadline may request an additional six-month extension by filing Form 4868. However, this extends only the time to file, not the time to pay any taxes due. Taxpayers needing to qualify for foreign earned income exclusions or to exclude or deduct foreign housing costs may need to file Form 2350, especially if they need more time to meet residency or presence tests.
Additional Reporting Requirements
Taxpayers with foreign accounts must adhere to several reporting requirements:
Report worldwide income, including from foreign trusts and bank accounts.
File Schedule B, Part III, if they have foreign accounts, and possibly Form 8938 for specified foreign financial assets if they meet the threshold requirements.
Separately, file Form 114 (FBAR) with the Financial Crimes Enforcement Network (FinCEN) if foreign financial accounts exceed $10,000 at any time during 2023.
