5 Ways the June Tax Deadline Might Affect You
Written by
Vance Cariaga
Edited by
Daria Uhlig
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April 15 is the usual tax filing deadline for most Americans, but some get an automatic two-month extension that pushes the filing deadline back to June. This year’s June filing date is Monday, June 17, because June 15 is on a weekend. Most of the usual tax rules apply in June, though there are some slight variations to keep an eye on.
According to the IRS, the June deadline applies to both U.S. citizens and resident aliens abroad — including those with dual citizenship. Here’s a look at five ways the June tax filing deadline could impact you.
Do You Qualify?
You can qualify for the two-month extension if you are a U.S. citizen or resident alien residing overseas or on duty in the military outside the U.S. According to the IRS, a taxpayer qualifies for the June 17 extension to file and pay if they meet one of the following criteria:
- They are living outside of the United States and Puerto Rico and their main place of business or post of duty is outside the United States and Puerto Rico.
- They are serving in the military outside the U.S. and Puerto Rico on the regular due date of their tax return.
To use the automatic two-month extension, you must attach a statement to your tax return explaining which of the two above situations applies.
You Could Face Penalties If You Don’t Meet the June Deadline
On its website, the IRS posted a reminder that an extension to file a return “does not grant an extension of time to pay taxes owed.” Eligible taxpayers should estimate and pay any owed taxes by the June 17 deadline. If not, they will be subject to the usual penalties.
You Might Qualify for Additional Extensions
Here are a couple of the rules the IRS put forth if you can’t meet the June 17 due date:
- You can request an automatic six-month extension by filing Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return.
- Members of the military stationed abroad or in a combat zone during tax filing season could qualify for an additional extension of at least 180 days to file and pay taxes. More information can be found in the Extension of deadline – Combat zone service Q&As.
You Could Earn Additional Benefits
According to the IRS, many taxpayers living outside the U.S. qualify for tax benefits such as the Foreign Earned Income Exclusion and the Foreign Tax Credit, but they are available only if a U.S. return is filed. You should also check out expanded tax benefits such as the Child Tax Credit, Credit for Other Dependents and Credit for Child and Dependent Care expenses.
Your Foreign Income Might Be Taxable
U.S. citizens’ or resident aliens’ worldwide income is subject to U.S. income tax, according to the IRS. This includes income from foreign trusts and foreign bank and securities accounts. In most cases, affected taxpayers need to complete and attach Schedule B, Interest and Ordinary Dividends to their Form 1040 series tax return.
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