J.K. Lasser's Your Income Tax 2013: For Preparing Your 2012 Tax Return

36.7 Exclusion Not Established When Your Return Is Due

If you will have tax to pay even after qualifying for the exclusion—for example, your earned income exceeds the exclusion—you may file for an extension to file but you will owe interest on the tax due. To avoid interest charges on the tax, you may take one of the following steps:

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Filing Tip

Extension of Time To File

If you are living and working abroad on April 15, 2013, you have an automatic extension to June 17, 2013. For an additional four months, file Form 4868 by June 17, 2013, and pay the estimated tax to limit interest and late payment penalties. For a longer extension, in anticipation of owing no tax on your foreign income, you may file Form 2350 either with the Internal Revenue Service Center in Austin, TX 73301-0045, or with a local IRS representative. File Form 2350 by the due date for filing your 2012 return, which is June 17, 2013, if you are abroad and are on a calendar year. Generally, you will be granted an extension for a period ending 30 days after the date you reasonably expect to qualify for the foreign earned income exclusion.

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1. File a timely return and pay the total tax due without the application of the exclusion. When you do qualify, make sure you file a timely (47.2) refund claim; or

2. Pay the estimated tax liability when you apply for the extension ...