U.S. taxpayers who have a social security number AND filed a tax return in 2018 or 2019 may qualify for refundable tax credits. If you qualify, the maximum credit will be $1200 per taxpayer and $500 for each dependent child reported on your tax return that have a valid social security number. Don’t put off your filing requirement, there will be no payments made after December 31, 2020. If you are behind in filing, we can help. GET STARTED!
The US government extended the filing and payment of all individual tax returns to July 15th, 2020. Estimated taxes that were due in April and will be due in June are also extended to the July 15th deadline. Penalties and interest will be waived on all individual tax payments that were due from February 15 thru July 15. If you haven’t already, now is the time to file your U.S. taxes. We specialize in U.S. expats tax returns. Contact us to make sure your taxes are filed correctly.
For Expats getting the Covid-19 stimulus payment from the US government can be a complicated process:
- You must have a US social security number. Using an ITIN disqualifies you from the program. Including taxpayers, spouses and dependents.
- Direct deposits are only available to US bank accounts. Some clients who do not have a US bank account are using accounts of family and friends for this purpose. If you filed your 2018 tax return without your US bank account number, file 2019 as soon as possible requesting that your refund or payment due is applied to your US bank account.
- If your last return shows no tax due or refund, you must you the IRS portal “Where’s My Payment” to notify the IRS of your US bank account for direct deposit purposes. Foreign addresses and bank accounts cannot be used.
- If you only have a foreign address and/or bank account, the IRS will mail the check to your last known address per your 2018 or 2019 tax return. Hopefully your local post office is processing your mail. If you do not receive the payment, you may be able to have the credit processed on your 2020 tax return. The jury is still out on that process.
If you are an expat in need of tax filing, contact Expatriate Tax Returns for help.
The U.S. Treasury Department and the IRS are providing special PAYMENT RELIEF to individuals, trusts, businesses and estates, in response to the novel Coronavirus pandemic for those who filed for an extension on or before April 15th, 2020. All income tax payments (including self-employment tax) are extended to July 15, 2020 without penalty or interest assessments if you filed for an extension by the April 15th deadline. If you are a U.S. expat filing late, you do not qualify for payment relief but you still need to file per U.S. law. Contact Expatriate Tax Returns for help to get started.
From the Desk of Diane Siriani, owner and Managing Member of Expatriate Tax Returns
As of today, the US Treasury Department and the Internal Revenue Service are providing special PAYMENT relief to individuals, estates, trusts and businesses in response to the COVID-19 Virus Outbreak. All income tax payments (including self-employment tax) are extended to July 15, 2020 without penalty or interest assessments.
THE FILING DEADLINE REMAINS APRIL 15, 2020. If you are a US individual resident or expat who owes tax, you must file your return or an extension by the April 15 due date to get payment, interest and penalty relief under this program. NO FILING, NO RELIEF!
If you are a C-Corporation, you will automatically receive the same payment extension date of July 15, 2020.
The payments that are extended are estimates due April 15, 2020, tax due per your filed return, extension payments due based upon your estimate of tax due. Payments extended for individuals are limited to $1,000,000; payments extended for C Corporations are limited to $10,000,000 of their 2019 tax due.
As of today’s writing, THIS EXTENSION ONLY APPLIES TO YOUR FEDERAL TAX RETURN. ALL STATE AND CITY RETURNS MUST BE FILED AND PAID BY APRIL 15, 2020 in order to avoid interest and penalty assessments.