Out of country until May 2025. Will need to do extension and do we prepay expected taxes?

[xmasbaby0]

You cannot request an extension for 2024 yet---but when you do, you have to pay your estimated tax due by the April filing deadline.   Then you will have until mid-October 2025 to actually prepare and file your 2024 return.

[pk]

@shirleyhoem , agreeing with the response from my colleague @xmasbaby0 , just wanted to add:

1. Should we assume that you are a US person ( citizen/GreenCard ) ?  Are you single  or your family is moving with you ?

2. Are you going to working and earning while abroad?  Which country ? Employed by local entity or a US entity or US govt. ?

3. If you meet the  Physical Presence Test, you may be eligible to exclude  your 2024 foreign income ( up to a limit ) or be eligible for  foreign tax credit if you pay taxes to a foreign taxing authority.

 Please tell more  and  we should be able to help.

4. Note that if you are a resident of a  state that taxes income, Foreign Earned Income Exclusion or Foreign Tax Credit may not apply and the state may want quarterly estimated taxes  based on your federal AGI.

[Opus 17]

If you are asking about your 2023 taxes, which were due April 15, 2024, you can't get an extension that long.

If you are asking about 2024 taxes, due April 15, 2025, you have three options.

1. File an electronic request for extension.  You can't do this until February 2025.

2. File an extension by mail using form 4868.  You must mail the form after January 1, 2025 and before April 15, 2025.  If you are mailing from overseas, you should use a service with tracking. 

3. You can get a 2 month automatic extension to June 15 if you are overseas, but you can't claim this electronically.  To claim the 2 month overseas extension without using method 1 or 2, you have to file your return by mail and attach a written explanation.  I would recommend method 1 or 2.

In all cases, if you expect to owe taxes, you should make a payment by April 15, to avoid late-payment penalties.  If you expect to owe more than $1000, you should be making quarterly estimated payments all through the year, because if you owe more than $1000 when you file, you can be assessed an underpayment penalty even if you pay in full when you file.