Itís Your Money > Taxes

TAXES

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medic3500:
I have procrastinated long enough, time to file my US Taxes. This will be my first year doing so from the Phillipines. Is there anything special I need to know or file as a expat here.

Art, just a re(tired) Fil-Am:
Nothing special as long you don't have anything to declare in your home state, like property or a business!
I use Turbo Tax on-line every year for the past 10 yrs now. I just answered all of their questions and Turbo Tax did the rest, they prepared and e-filed all the necessary forms and it only took an hour to do from start to finish as long all the information is provided and complete! I already e-filed my State & Federal before March 22 using the 1040A short form and it only cost me around $56, but I think the fees has increased since March 22.
It's a small price to pay in eliminating the hassles and worries about doing our taxes! The cost will always be different from one person to another since everyone's taxes are not all alike! 
BTW, you can request for an extension since you reside overseas!
 

medic3500:
I still have a house in the states I'm renting out until it gets sold but the market is really sluggish now and the house is upside down. What issues does this present?

Art, just a re(tired) Fil-Am:
Just the usual issues that deals with home ownership in your state when it comes to property taxes and everything that goes with selling or renting your home. You'll find that all out when you do your taxes!
Have a fun income tax day!  ;)

suzukig1:
Overseas U.S. citizens and residents have until June 15 to file their tax returns without filing for an extension.

However, if you owe money that needs to be paid by April 15 to avoid paying a penalty and interest.

http://www.irs.gov/Individuals/International-Taxpayers/U.S.-Citizens-and-Resident-Aliens-Abroad

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