Streamlined Offshore and the Expat Deadline

Technical topics regarding tax preparation.
#1
Posts:
2611
Joined:
24-Jan-2019 2:16pm
Location:
North Shore, Oahu
The SOP calls for 3 overdue tax returns.

Does 2018 become overdue on the 16th of April 2019 or on the 16th of June 2019? (assuming the taxpayer is accordingly overseas).

[This could be important because if you file 2018 before it is overdue, you might screw up your ability to file under the SOP.]

Thank you.
 

#2
Smktax  
Posts:
517
Joined:
25-Apr-2014 12:02pm
Location:
Usa
You should extend 2018 if you cannot timely file. Then, the years 2015, 2016, and 2017 should be filed as well.
 

#3
Guya  
Posts:
859
Joined:
21-Apr-2014 8:08am
Location:
London, United Kingdom
It is a minimum of 3 delinquent returns. We have prepared many hundreds of returns using the SFOP. Several of these will have filed more than 3 years worth of back returns; especially those planning around expatriation.
PS – Greeting from London, England. Grey and rainy ...
 

#4
Posts:
2611
Joined:
24-Jan-2019 2:16pm
Location:
North Shore, Oahu
Thank you so much - but when does 2018 become delinquent?

If a client walks in on the 20th of April, would you file 2016, 2017, and 2018? Or is 2018 not yet delinquent on that date because the taxpayer is overseas?

Thanks
 

#5
Guya  
Posts:
859
Joined:
21-Apr-2014 8:08am
Location:
London, United Kingdom
In these circumstances, the US income tax return for 2018 is due to be filed by 17 June 2019; but can easily be extended until 16 December 2019 if necessary by filing an IRS Form 4868 by 17 June - followed by writing a letter to the IRS by 15 October 2019. An FBAR for 2018 must, however, if needed be filed with the US Treasury by 15 October 2019.
PS – Greeting from London, England. Grey and rainy ...
 


Return to Taxation



Who is online

Users browsing this forum: BigJohnNJEA, Bushmaster, EZTAX, golfinz, Google [Bot], GRobCPA, HowardS, ImposterTax712, JoJoCPA, lckent, MAPCPA60, MilesR, NoCalCPA85, rbynaker, Webster and 188 guests