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June 15 is the deadline for estimated tax payers, overseas filers

Looking for something to do this weekend? The Internal Revenue Service has some suggestions.

If you pay estimated taxes or are a civilian or military taxpayer living outside the United States, you should spend the coming Saturday and Sunday working on your taxes since they're due Monday, June 15.


Yeah, I know. It's not really the start of summer celebration you were hoping for. But it's one that must be heeded or you'll find yourself owing Uncle Sam more.

Here's the calendar scoop.

Estimated taxes
If you get income that's not subject to payroll withholding, you need to make these four tax payments each year. This generally applies to money you get as an independent contractor or from investments.

Remember, even if you're having your portfolio payouts reinvested, that still counts as income. It's known as constructively received income, meaning if you wanted to get the dividends or capital gains and spend them, you could.

The tax payments are called quarterly because there are four of them, but the applicable tax periods and due dates don't necessarily align with our Gregorian calendar.

The table below shows the IRS estimated tax calendar:

Payment # Due Date For income received in
1 April 15 Jan. 1 through March 31
2 June 15 April 1 through May 31
3 Sept. 15 June 1 through Aug. 31
4 Jan. 15 
(of the next year)
Sept. 1 through Dec. 31

As with other tax filings, if the estimated tax 15th of the month deadline falls on a weekend or holiday, it gets bumped to the next business day. No such luck this year.

Before electronic filing (yeah, some of us remember those olden days!), you had to send your estimated payments to the IRS via snail mail along with a paper 1040-ES voucher.

1040-ES second quarter June 15 2015 due date
Click image for full 2015 1040-ES Form and instructions in PDF format.

The IRS still produces the vouchers, which you can download if you still prefer to write a check and give the U.S. Postal Service some business.

Nowadays, however, the IRS also accepts estimated tax e-filing. You can pay by credit or debit card or use the tax agency's Direct Pay option or, if you've signed up for it, the Electronic Federal Tax Payment System (EFTPS).

Americans abroad
If you are a U.S. citizen or resident alien living overseas, or are in the military on duty outside the United States, then you've had two extra months to file your annual tax return. This extension was automatic.

Passports with many stampsPassport stamps by hjl via Flickr CC

But your time is about up. You 1040 is due on June 15. Don't miss the deadline. If you didn't pay any tax you owed by April 15, that amount already has been accruing interest and penalties. You don't want to make them worse by getting hit with non-filing punishments, too.

If your adjusted gross income is $60,000 or less, you can use Free File to complete your tax duties electronically and, as the name says, at no cost.

And be sure to convert your overseas income amounts to U.S. dollars on your tax return.

The IRS has a special Web page for international taxpayers, as well as one for members of the military.

If you don't have to meet any of Monday's tax deadlines or have already done so, great! Enjoy your weekend.

But you still might want to check out some other tax moves to make in June. It could help make the rest of your summer less taxing.

You also might find these items of interest:


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