Don't Mess With Taxes

June 15 is a big tax day.

It's normally the due date for the year's second estimated tax payment. It's also the filing deadline for taxpayers abroad, be they private citizens or members of the U.S. military.

But when June 15 falls on a weekend, like today, then the deadline is pushed to the next business day. That means these tax tasks must be taken care of no later than Monday, June 17.

I blogged last week about estimated taxes, so today's post focuses on the tax responsibilities of taxpayers living outside U.S. borders.

Two more months to file: The Internal Revenue Service automatically gives these folks two extra months, from April 15 to June 15, to file their returns.

You may have read on the IRS website that qualifying taxpayers get these two added months to "file your return and pay any federal income tax that is due."

But the IRS also notes on another Web page that "if you pay the tax due after the regular due date, interest will be charged from the regular due date until the date the tax is paid." The regular due date is, of course, the dreaded April 15.

The agency also reiterates the interest assessment on unpaid taxes between April 15 and June 15 (or June 17 in 2013) in the When to File and Pay section of Publication 54, Tax Guide for U.S. Citizens and Resident Aliens Abroad.

The good news, though, is that you won't face penalty charges for not filing as long as you get your 1040 in or postmarked by the June deadline.

To make sure that the IRS doesn't charge you, attach a statement to your return explaining which of the two situations -- living and working abroad or posted by the military to overseas duty -- qualifies you for the extension.

And if you need even more time to file, submit a regular request for an extension, Form 4868.

If you haven't yet paid the tax you owe, be sure to do so with this request to avoid the failure to pay penalty.

Last week at my other tax blog: A look at mid-year tax deadlines was one of the topics last week at my other tax blog.

June is busy, busy under normal tax circumstances, but it is jam packed this year thanks to the added furlough day thanks to sequestration.

It's also busy for folks in Ardmore, Pa., just outside Philadelphia, where the Merion Golf Club is hosting the U.S. Open.

A lot of the club's neighboring homeowners are renting their residences to folks who want to see Tiger and Phil and Sergio and Rory play.

As long as the Pennsylvanians (or any homeowners) don't rent their homes for more than 14 days during the tax year, the short-term rent money they collect is tax-free.

You can find my other tax blog thoughts at Bankrate Taxes Blog on most Tuesdays and Thursdays. If you happen to miss my posts over there during the week, you can find a summary (and links) here the following weekend.

You also might find these items of interest:

• Tax expatriation trend prompts Ex-PATRIOT Act
• Tax tips for members of the military
• June 15 deadline for U.S. taxpayers living abroad or in the military