Last Updated on June 3, 2024 by EXARAccounting
If you are a U.S. citizen or lawful permanent resident alien (green card holder) living outside of the U.S., are you current with your U.S. tax filings? If you are a U.S. citizen or green card holder, you are still required to file your U.S. personal income tax return and report worldwide income every year regardless of which country you live in.
If you earn income and pay income taxes in another country, you may be worried about double taxation. Do not worry. There are two tax benefits available to reduce your tax liabilities in such cases. One is Foreign Earned Income Exclusion and another one is Foreign Tax Credit. Please confirm if you are qualified to take these benefits and decide which one gives you better tax advantage.
The deadline for the U.S. personal income tax return is usually April 15th, but for those of you living abroad on April 15th, you are granted an automatic two month extension of time to file your tax return. Therefore, your 2023 personal income tax return will be due on June 17, 2024. Don’t forget to include a statement stating that you live outside of the U.S. as of April 15th and are granted an automatic two month extension of time to file your tax return.
