October 15th Deadline
Heads up! Oct. 15 is an important deadline for taxpayers who live and work abroad, or have certain foreign financial accounts. Taxpayers abroad had until June 17 to file a 2018 individual tax return or request an automatic extension to file by Oct. 15. Requests must have been filed by June 17. Also, taxpayers with foreign accounts which, combined, exceeded $10,000 at any time in 2018 must electronically report the accounts. That means filing a Form 114, “Report of Foreign Bank and Financial Accounts (FBAR),” with the Treasury Dept. Financial Crimes Enforcement Network (FinCEN). FinCEN has granted filers who missed the deadline an automatic extension to Oct. 15. Contact us with questions.