The U.S. tax filing deadline for citizens living abroad is June 15th, a leading accountancy firm has warned.
U.S. citizens abroad can ignore the traditional April 15 deadline, but they only have two months grace.
The firm, U.S. Tax and Accounting Services in Escazú, also said that citizens and those foreigners who have to file returns with the Internal Revenue Service can apply and received an extension until Oct. 15.
The firm also noted that U.S. citizens who have bank accounts overseas might have to file another form by June 30. The form is the Report of Foreign Bank and Financial Accounts. Those who must do so are U.S. citizen or permanent residents who had a financial interest or signature authority in bank or financial accounts outside the United States, and the aggregate value of those accounts is greater than $10,000 at any point during the year, said the firm.
U.S. citizens and permanent residents abroad must report all their income, even that earned in Costa Rica, although, as a Sabana Este accountant, James Brohl, notes, there is a significant exclusion of overseas income allowed. For the 2015 tax year the amount is $100,800.