Читать книгу Larry's 2016 U.S. Tax Guide 'Supplement' for U.S. Expats, Green Card Holders and Non-Resident Aliens in User Friendly English - Laurence E. 'Larry' - Страница 7

1 January 2016 the tax year begins for individuals who are on a calendar year (come on, now - we're all calendar year taxpayers, whether we like it or not!). The 'Entire taxable year' Begins on January 1 (which fell on a Friday in 2016). You are on a ‘cash basis’ for tax purposes – if you receive any income in the calendar year, you’ll have to include it during that year. If you ‘earned’ income that you did not receive until the next year (payments that should have been made to you in 2015 that you did not actually receive until sometime during 2016?), then don’t worry about that income – it’ll be part of your 2016 taxable income – unless you receive a Form 1099 which includes that income…..

15 January 2016 This date is the deadline for final payment of estimated federal income taxes for the last voucher of the 2015 1040ES.

31 January 2016 You can 'technically' avoid that 15 January deadline for payment of estimated taxes if you actually file your final tax return and pay final taxes by 31 January. But wait – that’s a Sunday! O.K., you’re off the hook for another day……and your filing date for this instance is actually 1 February 2016!!!

18 or 19 April 2016 – NOT 15 April 2016!!!!! Because of the weekend and the fact that Washington, DC has its Emancipation Day holiday, tax day, across the land, except for Massachusetts and Maine and their Patriot's Day holiday, entitling those residents to file on Tuesday, 19 April 2016.

Your first quarter, 2016 1040ES is due on this date

Your IRA payment just might be due by this date

Generally, this is the date for filing form 1040 unless you are on extension....gift tax returns are also due on 18 April, this year and it is also the final date for filing an amended tax return for the third previous tax year.

15 June 2016 this one is important for expats! This day, my friends, is the

deadline for filing the 2015 tax return. You'd better file it - and have proof of mailing as 'insurance', or you'd better file an extension of time through 17 October to file ( another weekend allows you more time and, if you have sent in a proper letter request from overseas subsequently, an additional 2 months to 15 December) You'll still have interest due and underestimated penalties if you underestimated your pre-payments and filed under extension, before your extension deadline, but you'll avoid some very costly penalties by filing your extension request - this extension form is virtually automatically approved. Oh, you can be the first to be penalized in this instance, if your extension application is denied - but I doubt it......! If you are a first time overseas filer, this is also the best date to file a specific form (2350) for filers who simply want to wait until they qualify under the physical presence test (we'll cover this one, later in the book!) in order to take advantage of foreign exclusions.

And...it is also the day for filing voucher #2 of the 1040ES.

30 June 2016 – Did you efile your FinCEN114 by today? You are late, otherwise. Want to find out more? Read that part of the book explaining the world’s stupidest URL – one that common sense would dictate be easy but instead, the government has given this a URL that simply cannot be memorized!

15 September 2016 Voucher # 3, third quarter payment of your 1040ES is due, today, if you are going to owe anything for 2016 - time to pay...!

15 October 2016 Contrary to what the IRS or your accountant might lead you to believe you definitely can file for further extension through 15 December – but you’d better do this before 15 October. Personally, I try to avoid anything dealing with tax after 15 October (because I value my sanity and, after nearly five decades of doing tax work, I really need to cut off by 15 October!!!) but the IRS will still allow you those extra two months if you file that additional extension.

31 December 2016 The year's over (even though it is a Saturday, this one does not carry over until 2 January) - new income tomorrow? Worry about it next year!! What’s this - you say that in spite of reading this you still have no idea of the tax system? Well, apparently, neither does most of America!

Why? Will it ever change?