As April 15th, 2012 falls on a Sunday and Washington DC observes Emancipation Day on Monday, the filing deadline for 2011 taxes has been extended to Tuesday April 17th, 2012. Remember that as a US expat living overseas, your filing deadline is automatically extended by two months (June 15th) but any taxes you owe to the IRS are still due by April 17th. Confused? See the following example. Example: Mary is a US citizen living in Malaysia. She files her 2011 US tax return and pays her remaining tax of $5,000 on June 1st 2012. Mary is not subject to any late filing or late payment penalties since she lives overseas and is allowed an automatic two month extension to file until June 15, 2012. Mary will be charged interest on the $5,000 payment from April 17th (the payment due date) through June 1st (the date she paid). The current IRS interest rate is 3%. Note: If additional time is needed to file, we can file an extension that will give you until October 15, 2012. |
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