If you're a US expat, it's tax time. Your two-month reprieve on filing deadlines is just about up. For Americans abroad, hunker down and get that tax return done. It's due June 15th.
Pray you qualify for the Foreign Earned Income Exclusion (FEIE). Reduce your agony, at least a bit.
If you live abroad, work overseas, are a Perpetual Traveler gallivanting from place to place (everywhere except the US, basically), you need a bank account wherever you're living. Check those balances - the highest total hit during the year among all accounts combined - to see if you fall within FBAR and/or Form 8938 limits for reporting bank and other financial accounts, and/or foreign assets, respectively.
The deadline for RECEIPT of FBAR and Form 8938 is June 30th. This trips up a lot of people since tax return deadlines are typically the date of postmark. If you have to file FBAR and/or Form 8938, make sure it arrives before June 30th! These two have draconian penalties ($50,000) for failure to file or late receipt!
We've gone into these before, so let's not repeat it all again. Just a friendly reminder to get it done.
Once you get through the pain, maybe you want to rearrange some living arrangements or financial arrangements to reduce next year's bill.
May your road rise to meet you (not Taxman)!
Ann
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