If you are a U.S. citizen living abroad, the U.S. income tax requirements are generally the same as if you lived in the United States. All gross income, whether made in the United States or abroad is subject to U.S. income taxes. Your return must be filed if your income meets certain thresholds, which for single filers is around $10,000 and for married filing jointly filers is around $20,000, both indexed for inflation.
The due date for filing these returns is the same as if you lived in the United States; however, you are automatically granted a two-month exemption if you are living abroad on the due date. To get this exemption, you simply have to attach a statement to your return saying that you were living abroad on your due date.
All U.S. tax returns must be filed in U.S. currency; therefore, to the extent that you have earned income in foreign currency, you must convert it to U.S. dollars using the yearly average exchange rate which can be found on the IRS’s website.
Finally, to the extent that you own an interest in a foreign bank account and the value exceeds $10,000 the federal government generally requires you to disclose this by June 30th every year.
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