Filing US Taxes Abroad in 2024

December 8, 2023 | , | 6 minute read
Expat Tax Blog. Tax Tips for US Americans abroad.

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Photo shows a calculator with TAX 2023 displayed on it. In the backgrounds is coins, glasses, paper and paperclips for filing Us Taxes.

Happy 2024 Expats! It’s a new year, and we here at MyExpatTaxes are delighted to be the best source of tax information an American expats filing their taxes could ever want. Whether you’ve had a child, still need to claim your third-round stimulus check, or want to know how much income you can exclude on your FEIE this year, we’ve got you covered. Keep reading to learn everything you need to know about filing US taxes abroad in 2024, including key deadlines to ensure a smooth and timely submission of your tax returns.

Updated Filing Thresholds

As is standard practice, the US government has increased filing thresholds, standard deductions, and FEIE maximum exclusions to allow inflation-related adjustments.

In 2024, You Have to File a 2023 Tax Return if:

  • You earn more than the standard deduction of $13,850
  • You make any self-employment income over $400
  • You’re married, filing separately, and earn any worldwide income over $5

If you live and work abroad, you may not owe US taxes – however, you’ll still need to file!

Expat Tax Deadlines for 2024

You may know that expats get an automatic extension when filing their taxes yearly, but did you know you still have to pay any taxes owed by the regular filing deadline? That’s why being aware of all tax deadlines is so important. And don’t forget the FBAR if you need that, too!

Standard Filing Deadline for 2023 Tax ReturnApril 15th, 2024
Payment Deadline for 2023 Taxes Due*April 15th, 2024
FBAR Deadline for Non-ExpatsApril 15th, 2024
Automatic Extention for ExpatsJune 17th, 2024
Extended Deadline for Expats Filing Form 4868 (by June 15th)October 15th, 2024
FBAR Deadline for ExpatsOctober 15th, 2024

*If you owe any taxes, they have to be paid by April 15th. This deadline applies even if you have an automatic or requested tax extension. The extension only applies to the filing deadline, not the payment deadline.

Additional Child Tax Credit Updates

There is good news for parents in 2024. Therefore, as long as your qualifying child was UNDER the age of 17 by December 31st, 2023, you may be able to claim them for this credit. They must have a valid social security number by the DUE DATE of your 2023 tax return, including extensions, to claim the credit.

Parents who are living in the US

If you lived in the US for more than half the year in 2023, you can claim the Additional Child Tax Credit. You also can receive, as a refund, a payment of up to $1,600 for qualifying children.

Parents who are living outside the US

If you lived in the US for less than half the year in 2023, you can also claim the additional child tax credit. For you, as a refund, you can receive up to around $1,600 per qualifying child under the age of 17.

Meaning expats who live abroad year-round may not qualify for the new, higher refundable amount of the Child Tax Credit. While expats may not receive the total amount as a refund, year-round expats will still benefit from the new, higher age limit!

Child and Other Dependent Care Credit Updates

Yes, there are even more opportunities for families to save. One of the best ways to save money on your taxes this year is via the Child and Other Dependent Care Credit. This credit is specifically for families who pay for care or services in order to go to work or spend time looking for a job. The credit pays you back, at least in part, for money spent on childcare or dependent-related-care.

In 2023, the Child and Dependent Care Credit is a maximum of $3,000 for one qualifying dependent or $6,000 for two or more dependents. With that, the highest credit percentage is 35% for employment related expenses in 2024. However, if your gross income is over $43,000, the percentage is only 20%.

How Much Can You Claim for Care When Filing US Taxes Abroad in 2024?

If you’re a part-time expat and have lived within the US for more than half of 2023, you can claim the new higher deduction. Additionally, if the deduction is more than the taxes you owe, you can claim the remaining allowance as a refund!

If you’re a full-time expat or you spent more than half of 2023 outside of the US, you can still claim the full higher deduction. However, you won’t be able to claim any of it as a refund.

The IRS defines a qualifying dependent as a child who, in 2023, is under the age of 13, a spouse who cannot take care of themselves, or another dependent or person who cannot care for themselves and lives with you for more than six months out of the year.

How Much Can You Exclude Using the FEIE?

American expats and others with foreign income can use the Foreign Earned Income Exclusion to exclude foreign earnings up to $120,000 when filing US taxes abroad for 2023.

Before using the FEIE, US Citizens abroad may want to consider whether the Foreign Tax Credit is a better choice. Both are good ways to reduce your US tax burden. However, one may be better than the other, depending on your exact circumstances. MyExpatTaxes specializes in topical tax problems for Americans outside the United States. We are also the only expat tax software available that optimizes your return automatically and applies for the best expat tax benefit.

Plan Ahead

There is a lot to consider when filing taxes for Expats in 2024. As you can tell, the rules and regulations are changing every year. The best way to make sure you stay in good standing with the IRS when filing taxes abroad, is to always plan ahead and start early.

Had a new addition to the family this year? Get your new child a social security number ASAP to claim the Additional Child Tax Credit on your 2023 tax return!

Not sure how to get an SSN for your new child? We’ve got you covered. Check out our guide for Accidental Americans, where we cover how to get an SSN, a US passport, and more.  

Infographic with the 2024 us tax deadlines

How MyExpatTaxes Can Help When Filing US Taxes Abroad

Make sure you know your tax obligations and rights as an American abroad. Check back with MyExpatTaxes or follow us on social media to keep up to date. Better yet, sign up and file your 2023 taxes with confidence.

Written by Ellen M

December 8, 2023 | , | 6 minute read

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