Tuesday, April 16, 2024

Stimulus Checks $1,200 for US Expats

Stimulus Checks $1,200 for US Expats

US expat taxes

Us expats as part of the CARES Act, economic impact payments (stimulus payments) of $1,200 have been announced for all US citizens and Green Card holders.

Even if you are living outside of the United States, you will still be eligible to claim the money.

Requirements for ex-pats to claim the stimulus money

All US expats stimulus check individuals with gross worldwide income of less than $75,000 for 2019 (January to December) will be eligible for the payments.

If your income was above $75,000 and up to $99,000, you will still receive a part payment.

The income threshold is based on your adjusted gross income, shown on line 8b of the 2019 federal tax return, form 1040.

Filing income tax returns for 2018 and 2019

To claim the payment you will need to have filed your 2018 and 2019 tax returns. To file an Us expats tax return, you can file online or send a paper return to the IRS.

If you don’t include your US bank account number and routing number, the IRS will send you paper checks.

Additional reporting for US ex-pat taxes

As a US citizen, you always need to report worldwide income – even when you are living abroad and have paid taxes on your foreign income, you still need to show that income on the US tax return.

If you want to use the foreign earned income exclusion. And you still need to file a US tax return each calendar year.

Foreign bank account reporting (FBAR)

As well as filing stimulus checks US tax returns each year. Expats are required to report all their foreign bank and financial accounts back to the US each year.

The foreign financial accounts are reported when you file an FBAR – using the BSA E Filing system online.

Coronavirus pandemic and US expats

There is financial support from the US for expats and you are eligible for the stimulus checks.

If you moved us taxes abroad and are behind with your US taxes, you can use the IRS amnesty – the streamlined filing procedure – to catch up with your tax returns and still be eligible for the stimulus payment.

abubakarbilal
abubakarbilal
Abubakar is a writer and digital marketing expert. Who has founded multiple blogs and successful businesses in the fields of digital marketing, software development. A full-service digital media agency that partners with clients to boost their business outcomes.
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