Attention Americans abroad: Today, June 16, is your U.S. tax filing deadline, but remember, that’s only for filing, not paying.

As CPA Emily Haines of XpaTax Solutions explains: The IRS payment deadline was April 15, and if you owed taxes, interest has already started adding up especially if you had a major financial event (like selling a home abroad) that isn’t taxed locally but is taxed by the U.S.

💡 Not realizing the difference between filing and payment deadlines is one of the most common and expensive mistakes Americans abroad make.

⚠️ Not ready to file? You can still request an extension for October 15th, but don’t delay further, you need to send out the request using form 4868 no later than TODAY!

🎧 Full episode here: https://youtu.be/aQDSO0-tyZA?si=QUqKAv5KH_8LxABP

✨ Visit here for more free resources for current or aspiring U.S. expats: https://www.passporttowealth.com/

If you're an American thinking about moving abroad, but have questions regarding your financial situation or taxes, book a coaching call with Arielle here: passporttowealth.com/contact

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TRANSCRIPT: Deadline to pay is April 15th, whereas the deadline to file, and this is I think trips (0:05) a lot of people up, the deadline to file is June 15th, right? So you get this automatic (0:09) extension to file, but that isn't an extension to pay. Right, and so you have interest accruing (0:16) from April 15th, and there are no failure to file penalties until June 15th. And those failure to (0:25) penalties are percentage of taxes owed.
So if you don't owe anything, or you owe very little, (0:32) it'll be small, but if you did sell a home, for example, that is not taxed in Germany, (0:40) but is taxed in the US, then yeah, those late filing penalties can add up to quite a bit.

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