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June 5, 2010


If you were living and working abroad on 4/15/10, the due date of your return (but not payment of any tax due) was automatically extended until 6/15/10. You can further extend your personal income tax return by filing Form 4868 by 6/15/10 until 10/15/10. The extension must be send by US mail or UPS, DHL or Fed Express overnight express service and dated or postmarked on the 15th.

The Foreign Bank and Financial Account reporting form TDF 90-22.1 is must be received by the Detroit address it must be mailed to (it is filed separately from your Form 1040) by 6/30/10. Failure to file that form or filing it late will result in an IRS penalty of $10,000 or more. This form must be filed if your personal foreign accounts or the foreign accounts you sign on but have no ownership interest equal or exceed $10,000 at any time during 2009 when all accounts are aggregated together (combined in one total). That means even though no individual account exceeds $10,000 if you combine the highest balances during 2009 together an that amount is met or exceeded you must file the form. This includes foreign stock broker accounts and any type of foreign account in which an entity holds custody of financial assets (such as credit balances in foreign credit card accounts)

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