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  • KimchEli
  • Adventurer

    • 46

    • August 29, 2011, 10:58:59 am
    • Bonghwa
Re: Questions and Answers for American Taxes
« Reply #300 on: March 12, 2013, 07:44:19 am »
really??? wow, that's great news! thanks for keeping me updated!


  • Seoul1
  • Waygookin

    • 14

    • September 20, 2012, 02:38:06 pm
    • Suwon
Re: Questions and Answers for American Taxes
« Reply #301 on: March 13, 2013, 02:24:38 pm »
For those that have filled out the 8802 form:
In section 10 where the Penalties and Perjury Statement is made, what did you include?

I am trying to decide which statement to use.

"Applicant Full Name" is a U.S. resident and will continue to be throughout the current tax year.

or

Countries other than Japan: [Insert name of individual and TIN] was a U.S. resident within the meaning of Article
  • of the U.S.-[country] treaty (including, in some cases, physical presence in the United States) immediately before entering [country]. The assignment began on [date] and ends on [date]. Article
  • of the U.S.-[country] treaty provides a [2 or 3] year exemption from income tax.


If it is the latter, what is the article #?


  • aemaier
  • Veteran

    • 83

    • February 29, 2012, 02:51:42 am
    • Suwon, South Korea
Re: Questions and Answers for American Taxes
« Reply #302 on: March 20, 2013, 01:48:00 pm »
I've heard two different things about the Korea-US tax treaty.

From the American side I have heard that you have a cumulative 24 months to claim tax exemption. For example if you work hagwon for one year and then public for one year and then hagwon for 6 months and then public for 11 months, you can get all of the public income tax exempt but not the hagwon income. Even if it is 2 years after you started working. You would even have one more month of income tax exemption to use at a later date. That's what the US IRS told me.

I was told by some Koreans that you have 24 consecutive months to use it and that starts  the moment your contract starts. If you work for hagwons for 2 years and then work a public school then you are out of luck.

Which of these is true, or more accurate? None of them?


  • ADB123
  • Veteran

    • 118

    • March 08, 2011, 09:51:29 am
    • South Korea
Living Abroad and filing taxes
« Reply #303 on: March 21, 2013, 10:39:48 am »
Out of my own stupidity I didn't file taxes last year. I need to also file for this year. I am a U.S. Citizen. I'm an expat here in Korea and haven't filed anything.

1. What forms must we fill out?
2. Do I file for last year?

Thanks ~~


  • chuck2657
  • Expert Waygook

    • 677

    • September 11, 2012, 02:29:12 pm
Re: Questions and Answers for American Taxes
« Reply #304 on: March 21, 2013, 12:00:03 pm »
I've only hear the first; that you have 24 consecutive months regardless of where you work.


  • adamjay
  • Veteran

    • 118

    • August 29, 2011, 08:06:10 am
    • Wonju
Re: Living Abroad and filing taxes
« Reply #305 on: March 21, 2013, 01:35:17 pm »
Far as I know, if you're working here you don't have to file there.  At any rate, I haven't filed in the last few years.  I know for sure that anything under 90 grand that you make abroad they don't care about, and I'm pretty sure we all fall under that category.



  • Chicagohotdog
  • Hero of Waygookistan

    • 1052

    • March 04, 2012, 12:25:31 pm
    • Gyeongsangbuk-do
    more
Re: Living Abroad and filing taxes
« Reply #306 on: March 21, 2013, 03:28:19 pm »
Yes, as an American you need to file and you should file for last year too.

They may not tax you on income less than $91,500 but you are still supposed to report it.  It's a lot of busy work but it's your legal responsibility.

You fill out form 2555 (the foreign income exclusion) and the 1040.  If you've at any point had more than $10,000 in bank accounts outside of the U.S. there is another form that you are supposed to fill out but I'm not sure what number that is since I always send money home to the states before it ever got that high.

You shouldn't have to pay anything, but you are supposed to file.
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  • xtummyx
  • Adventurer

    • 25

    • January 23, 2013, 08:05:54 am
    • South Korea
American Tax Question
« Reply #307 on: March 25, 2013, 02:26:31 pm »
I have received the appropriate tax documents that exempt me from Korean tax, but when I go back home to the states, how do I pay taxes on what I earned? Also, how much is that going to be (how much should I save and set aside)?


  • LindseyN
  • Adventurer

    • 40

    • October 23, 2011, 09:42:40 am
    • Seongnam, South Korea
Re: American Tax Question
« Reply #308 on: March 25, 2013, 02:51:44 pm »
As an American working in another country, you need to file a foreign earned income exclusion form, which I believe is a 2555. You will qualify for an automatic 2 month extension. When you file your taxes, you must include a letter to explain why you took the extension. You can request a 6 month extension if you need to qualify for the bona fide resident test or the physical presence test. Otherwise, I'm not sure it is best to wait until you are home to file taxes since it really isn't too difficult to file from Korea. It is overwhelming at first, but it isn't so bad once you start. I used turbo tax last year and file my federal taxes, state taxes in two states, and claimed my foreign income without any issues. Here is a website you can search if you have any more questions-http://www.irs.gov/Individuals/International-Taxpayers/Foreign-Earned-Income-Exclusion


  • rocketeerjoe
  • Expert Waygook

    • 769

    • March 08, 2012, 07:52:35 am
    • Jinhae, South Korea
Re: American Tax Question
« Reply #309 on: March 25, 2013, 03:24:58 pm »
I thought we didn't have to file at all until we went home. Do you even need to file an extension? I heard you can wait after your first two years are up and then file.
"If you want to change your direction. If your time of life is at hand. Well, then don't be the rule, be the exception. A good place to start is to stand. Just put one foot in front of the other." - Rankin Bass Santa Claus


  • Tiara
  • Adventurer

    • 29

    • March 04, 2011, 08:59:56 am
Re: American Tax Question
« Reply #310 on: March 25, 2013, 04:02:08 pm »
I thought we didn't have to file at all until we went home. Do you even need to file an extension? I heard you can wait after your first two years are up and then file.
I hope this is true b/c I didn't file for my first year in Korea :O


  • xtummyx
  • Adventurer

    • 25

    • January 23, 2013, 08:05:54 am
    • South Korea
Re: American Tax Question
« Reply #311 on: March 26, 2013, 07:55:30 am »
What happens if I wait until I am back in the states? does anyone have experience with this? i return home in september.


  • iamrhart
  • Hero of Waygookistan

    • 1938

    • November 16, 2011, 01:20:16 pm
    • XXXXXXXXxx
Re: American Tax Question
« Reply #312 on: March 26, 2013, 08:05:48 am »
What happens if I wait until I am back in the states? does anyone have experience with this? i return home in september.

I was back home my first year of doing taxes. the problem i had with this was, i needed information from the school, and was having a difficult time getting the information.
My advice is to do it early/now.  I used TaxAct, they were $15 for both Federal and State. (states will charge you differently). It was faster, easier, and above all, cheaper than other services i have used, like TurboTax. TurboTax ran me over $100 last time i did my foreign taxes with them.

In the states, you may have to file by hand. I know my taxes needed to be filed by hand because it was my first time filling out the "foreign earned income' sheet for my state/irs.  i think it is form 2555 or something.

good luck
You only live today once. You wont get a second chance. You wont get to live it twice. So make the most of it.

A sane man in an insane world will appear insane.


  • Hoosier_Jedi
  • Expert Waygook

    • 859

    • April 08, 2011, 01:56:38 pm
    • Icheon
    more
Re: American Tax Question
« Reply #313 on: March 26, 2013, 08:44:18 am »
This is my fifth year overseas. Just fill out form 2555. From what I've seen the IRS isn't picky about documentation in Korean. Just so long as you have documentation.


  • ADB123
  • Veteran

    • 118

    • March 08, 2011, 09:51:29 am
    • South Korea
Re: American Tax Question
« Reply #314 on: March 26, 2013, 08:52:17 am »
I didn't file my taxes for being an expat in Korea last year. Can anyone give me any advice?

For the 2012 tax year I just need to mail in my 1040 & 2555 forms, correct?


  • bmacdow
  • Adventurer

    • 26

    • September 05, 2010, 02:18:20 pm
    • Jeju
Re: American Tax Question
« Reply #315 on: March 26, 2013, 09:45:59 am »
I don't know much about taxes, but I'm pretty sure you should be filing every year even if you are out of the country.  If you file for an extension for the first few months until you can hit the requirements (such as being out of the country for 330 days) and then file you are exempt from American taxes; but you do still need to file so they know just in case.  I've been in Korea nearly 3 years and have filed every year but have never needed to pay anything to the US. 


  • Robotka
  • Veteran

    • 176

    • October 05, 2010, 01:05:29 pm
    • Seoul
Re: American Tax Question
« Reply #316 on: March 26, 2013, 11:30:02 am »
I've been in Korea 5 years, and every year I file online with Turbo Tax.

If you go to http://apps.irs.gov/app/freeFile/jsp/index.jsp?ck and scroll down to the Turbo Tax link, it's free to file your federal return.  I haven't filed state returns since I've been here.  (I was a little worried about that when I had to renew my driver's license in Kansas last month, but there wasn't a problem!)

With Turbo Tax, you just fill out their questions and they do the forms for you.  Somehow, you will end up with a negative income (unless you also have US income from earlier in the year).  You can file online, unless you have extenuating reasons to need to print out and mail in the forms.

You don't need any official Korean W-2s.  I just checked my Korean bank account, added the total deposits from my paychecks for the year, and converted it to US dollars using an online currency calculator.  There's also a place to put in the value of your housing, which you can estimate to be 400,000 per month.  I don't think it's that important to include, though (I don't remembering filling out that part last year).

I definitely recommend Turbo Tax with free file; the other ones I tried didn't seem to calculate correctly!


  • xtummyx
  • Adventurer

    • 25

    • January 23, 2013, 08:05:54 am
    • South Korea
Re: American Tax Question
« Reply #317 on: March 28, 2013, 08:44:34 am »
Has anyone NOT filed in korea and then filed back home who can tell me how much they ended up owing after the 2555. The thing about the 2555 is that I have only been here since september and don't qualify yet because of the 330 day rule.


  • acousticr
  • Expert Waygook

    • 503

    • January 24, 2013, 11:42:50 am
    • Gyeonggi
    more
Re: American Tax Question
« Reply #318 on: March 28, 2013, 09:26:15 am »
Has anyone NOT filed in korea and then filed back home who can tell me how much they ended up owing after the 2555. The thing about the 2555 is that I have only been here since september and don't qualify yet because of the 330 day rule.

File for an extension now - form 4868. That gives you two or four months, I forget which, but you can extend up til something like six months. Then file when you qualify for the 330 day test.
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  • ADB123
  • Veteran

    • 118

    • March 08, 2011, 09:51:29 am
    • South Korea
Re: American Tax Question
« Reply #319 on: March 28, 2013, 09:54:03 am »
So if we didnt file last year then we can file Form 4868??