There's the version of tax resolution the late-night commercials sell you. Then there's how it actually works. I'm Darrin Mish, a Tampa tax attorney. I've spent 32 years on the inside of these cases. Here's the real version.
If you’re living and working overseas, you have only one week left to file your taxes. The deadline is Monday, June 15. The US practices a global income tax policy which means that all income must be declared, no matter where it is earned. It also means you must submit your taxes even if you do not earn any income in the United States.
Click here to watch or read more information on IRS Back Taxes.
The IRS has also implemented a streamlined compliance program that allows US citizens working overseas to declare past years’ income that has not been declared. You should file your tax returns dating back to 6 years i.e. to 2009. The IRS’ streamlined program was introduced to help expatriates who were not aware they had to file a US tax return.
As usual, you should estimate how much you need to pay by taking into consideration your income, withholding and any life changes that could affect your returns. If you are not able to gather the necessary documents or make a complete return by June 15, you should still pay the estimated tax due but file for an extension. This will extend your deadline to October 16.
Read more about US expats tax compliance.
Check out more IRS News stories by clicking that link.