Living & Paying Taxes in USA, Extension Needed

Legal Taxes
1

April 15th is rolling around again, and it is time to pay US federal income taxes for those who reside in the USA.

I have had some inquiries from friends of friends in the USA, (some are new immigrants) and they are wondering . . . . .

RE: EXTENSION – is it possible to get an “extension” past the normal April 15th deadline? What sort of “rationale” is necessary?

RE: INSTALLMENTS – Also, is it possible to pay the necessary “tax due” in installments??

RE: ONLINE FILING– What about filing online for those who are travelling quite a bit and would find that method more convenient? What are the details?

Since I have been out of the USA for several years, I am not up to date on all of these topics.

Any analysis and comments by informed members of the forumosa.com community would be appreciated.

2

The overseas exemption of US$80,000 (or thereabouts) still applies.

I use TurboTax (available online) for filing taxes, making things so much easier. I’ve been filing online for years. The info from one’s mutual fund companies is automatically downloaded by TurboTax.

3

I think you get it automatically but you have to request it based on living abroad. Just write a cover letter saying you’re requesting the 2-month extension due to residence abroad, and include it with your filing, postmarked by June 15. That’s what I’ve always done, anyway.

EDIT: Oops, brain fart. Sorry, mate, pls disregard. Feel free to temp this.

4

I tried to make it clear in the topic of this thread, and in my initial posting, that I am not inquiring about the situation of an American citizen living abroad.

I am inquiring about the situation of an American citizen living in the USA.

5

I am applying for an extension based on the fact that I need to complete my Taiwan taxes before I can calculate my US taxes. They can go to the IRS website and download form 4868. I don’t see anywhere on the form that asks why you are filing for an extension. They do require you to estimate your tax liability and pay that amount. The form is not to be used to delay paying taxes that you owe.

6

I just found it amusing that Americans living in the US are asking an overseas American for advice on filing taxes in the US. As if there aren’t thousands of more qualified people who are living around them in the US that they could ask. :s

To be helpful to the OP, yes, I believe all of those things you mentioned are possible. However, for some of the trickier things, like paying in installments, you should contact the IRS and work out a plan. I don’t think they would appreciate you coming up with your own installment plan without informing them about it. That’s how you end up in jail.

My mother occasionally files for a 2-month extension on her taxes, and I believe it’s quite easy to get the first extension. If you need another extension, you probably will need a good reason. In any case, the extension does not relieve you from your duty to pay any tax due by April 15th. If you payed a large amount of taxes on June 15th together with filing your return, you would be hit with a late penalty and 2 month’s worth of interest since you didn’t pay by April 15th. I’ve never had that problem of making a late payment, but I would have had I not known about that rule.