IRS Issues Tax Deadline Reminder To Millions

Video
Related Videos
AD Loading ...
Video Player is loading.
Current Time 0:00
Duration 1:00
Loaded: 19.64%
Stream Type LIVE
Remaining Time 1:00
Â
1x
    • Chapters
    • descriptions off, selected
    • default, selected
    CPA Explains Five Important Tips Ahead Of Tax Season

    🎙️ Voice is AI-generated. Inconsistencies may occur.

    The Internal Revenue Service (IRS) has issued a reminder to millions of U.S. taxpayers living and working abroad to file their 2024 federal income tax returns and pay any taxes due by June 16.

    The extension applies to U.S. citizens and resident aliens outside the country, including dual citizens, offering them a two-month grace period after the regular April 15 deadline.

    Why It Matters

    All U.S. taxpayers, regardless of where they live, must report worldwide income to the IRS. That includes wages, interest, dividends and income from foreign sources. Accurate and timely filing is required to avoid interest, penalties, and the risk of missing out on available tax credits such as the foreign earned income exclusion.

    IRS
    File photo: the Internal Revenue Service Headquarters (IRS) building is seen in Washington. J. David Ake/AP

    What To Know

    U.S. citizens or resident aliens whose residence and main place of business or post of duty is outside the U.S. and Puerto Rico, as well as members of the military on duty abroad, qualify for the automatic two-month extension—shifting their filing deadline from April 15 to June 16, 2025.

    Taxpayers unable to file by June 16 can request an additional extension to October 15, 2025. This extension is limited to filing—not to payment. Interest will accrue on any unpaid taxes starting from April 15, 2025.

    Electronic extension requests can be submitted through IRS systems, and Form 4868 is available for those unable to file online. Businesses should use Form 7004 for extensions, and can get a six-month extension.

    The fastest payment options include IRS Online Account, IRS Direct Pay, and the Electronic Federal Tax Payment System (EFTPS).

    U.S. taxpayers without a domestic bank account can transfer payments directly to the IRS. Debit and credit cards, as well as digital wallets, are also accepted and may include service fees.

    Individuals affected by the ongoing conflict in Israel, or with residences or businesses in Israel, Gaza, or the West Bank, have their federal filing and payment deadline extended to September 30, 2025.

    Military personnel on duty in combat zones may also qualify for automatic extensions.

    Taxpayers with foreign financial accounts holding more than $10,000 at any point during 2024 must submit Form 114 (FBAR) electronically to the Treasury Department's Financial Crimes Enforcement Network.

    The initial deadline was April 15, 2025, with an automatic extension to October 15, 2025, for those who missed the first date.

    What People Are Saying

    Jay A. Soled, professor and chair of the Department of Accounting and Information Systems at Rutgers Business School, New Jersey, previously told Newsweek: "Even with the tax-filing extension, interest will apply to any 2024 tax payments received after April 15. This means that unpaid tax-year 2024 tax balances will begin accruing interest, currently at the rate of seven percent per year, compounded daily, after April 15, 2025."

    Commenting on why individuals working and living abroad have a two-month filing extension, Soled said it was "undoubtedly a relic of a bygone era when it was difficult for those living overseas to receive third-party information returns."

    He added that "in light of current technological developments, Congress would be wise to eliminate this exception."

    Richard D. Pomp, professor of law at the UConn Law School, Connecticut, previously told Newsweek, while discussing why individuals working and living abroad have a two-month filing extension: "The extension is a very old rule that predates the digital economy. Correspondence in those early days took place by mail and the time it took for mail to go back and forth across the ocean could lead to delays that taxpayers living in the country did not experience. In the digital economy, things are far more efficient and the rule is probably unduly generous."

    He added: "We are currently living through a total state of chaos at the IRS. Whenever possible, taxpayers abroad should file electronically and verify with screen shots and saved files, and copies of all documentation.

    What Happens Next

    U.S. taxpayers abroad have until June 16, 2025, to file their returns and pay taxes due for 2024, with eligible individuals able to seek additional extensions or payment arrangements if they are unable to meet this deadline.

    Taxpayers affected by the Israel-Hamas conflict or stationed in combat zones should review specific guidance and utilize all available IRS resources for support.

    Newsweek Logo

    fairness meter

    fairness meter

    Newsweek is committed to journalism that's factual and fair.

    Hold us accountable and submit your rating of this article on the meter.

    Newsweek is committed to journalism that's factual and fair.

    Hold us accountable and submit your rating of this article on the meter.

    Created with Highcharts 11.4.8
    UnfairLeftleaning
    Mostly Fair
    Left leaning
    Fair
    Mostly Fair
    Right leaning
    UnfairRightleaning
    Click On Meter To Rate This Article

    About the writer

    Jasmine Laws is a US News Reporter at Newsweek based in London, U.K. Her focus is reporting on health insurance, including Medicare and Medicaid, but she also writes about U.S. politics, crime and global affairs. Jasmine joined Newsweek in 2024 from News UK and had previously written for the Metro, Byline Times, The Human Perspective magazine and The Express. She has previously extensively covered stories within the U.K. art industry, human rights, health, and human trafficking. She was one of the nominees for Best News Piece at the U.K's Anti-Slavery Day 2023 Awards in Parliament. She is a graduate of Durham University and completed her NCTJ at News Associates. You can get in touch with Jasmine by emailing jasmine.laws@newsweek.com. Languages: English.


    Jasmine Laws is a US News Reporter at Newsweek based in London, U.K. Her focus is reporting on health insurance, ... Read more