Questions and Answers for American Taxes

[EllaRing]

Hey Moksori, sorry! Yeah you should be eligible as a dual citizen, but I'm not totally sure. There are a large number of people in Korea who are on various visas that might be able to answer your question. But since taxes tend to be a bit different for everyone, I'd suggest giving the IRS a call.

[prime]

I've been here for two years from America. I'm leaving in March and my co-teacher is telling me to get my residency certificate. What will happen if I don't get it? Will I still be able to get my money (Pension, Flight, Severance)?

[Bulldogs12]

'I've been here for two years from America. I'm leaving in March and my co-teacher is telling me to get my residency certificate. What will happen if I don't get it? Will I still be able to get my money (Pension, Flight, Severance)? '

You maybe able to claim income tax you have already paid in Korea over the past 2 years (I'm not sure though if you have to declare your earnings back in the US though). I'm an Australian and got a residency certificate in August last year. As far as I'm aware I don't have to pay tax for my first 2 years in Korea (or Australia) with a proof of residency certificate (if I stay in my job for that long). In regards to income tax I'd ask your co-teacher (you may need a tax card but I think that's exclusively for the purchase of goods/services, not income tax). The severance and flight claims should be okay but you may need the residency certificate for the pension (but I'm not 100% about this). I hope this helps but please check with your co-teacher/education office etc.

[Davey]

I edited the first post based on what posters wrote here. Hopefully this will reduce the number of redundant posts and make it easier for those seeking American tax info. I'm not American so I'm not completely familiar with the matter so please let me know if any of the info. is incorrect and what else should be added.

[Jozigirl]

I apologise if this topic has already been covered; I didn't find anything in the Search function though.

I am still struggling to get a Residency Certificate out of my tax office in SA (and have been since I left in 2010).  I have re-applied yet again for this certificate but have been told that it will take approximately 3 weeks to process.  My school needs the certificate by 27 February or I will have to pay the tax settlement.

Does anyone know if it's possible to re-claim the tax settlement if I submit the RC after February 27th?

[Davey]

I apologise if this topic has already been covered; I didn't find anything in the Search function though.

I am still struggling to get a Residency Certificate out of my tax office in SA (and have been since I left in 2010).  I have re-applied yet again for this certificate but have been told that it will take approximately 3 weeks to process.  My school needs the certificate by 27 February or I will have to pay the tax settlement.

Does anyone know if it's possible to re-claim the tax settlement if I submit the RC after February 27th?

As stated in the FAQ:

"Yes. Please be aware that the refund won't  get handed back to you in cash--it will most likely come in the form of a tax credit at the end of the financial year.."

From this link:

http://waygook.org/index.php/topic,16586.0.html

"For those that did not get a tax residency certificate prior to leaving for Korea, you still can apply for one from your tax authority.  Submitting it to the Korean NTS will allow you to claim back tax that may have already been paid retroactively.  Please be aware that tax doesn't get handed back to you in a wad of won, it will most likely come in the form of a tax credit at the end of the financial year."

[nikkib01]

I have not received my residency certification in the mail yet (it should be here next week) and my first paycheck is not until the 25th of this month.  As long as i turn it in before I get paid, I shouldnt have to pay the taxes, right? 

[teodulfopalisoc32]

Hi, all:

So I have my residency certificate. Do I just hand it to my co-teacher? Do I have to send it to the GEPIK office? Back to my recruiter? I've looked and looked, but can't seem to find an answer on this. I just want to make sure I am putting it into the correct hands.

Thanks.

You should talk to your main CO-Teacher.  Last week, my co-teacher asked for my Residency Certificate and so I gave it to her.   If your co-teacher hasn't asked you, let her know or to whom you should give it too.  Do it right away too.  Payday is coming soon and you might be taxed.   So, hopefully that helps you out there =).  GOod luck =).

[Hoosier_Jedi]

I'm filling out my taxes and have a few questions I was hoping I could get some help with.

* On the 2555, my school paying for my apartment counts as "expenses paid on your behalf for services you performed" right?

* Just what am I supposed to use as a W2 form?

* The the online class I took for my TEFL count as tuition and fees, right?


Man, do I hate filling out my taxes. I'd give a lot for an H&R Block right about now. 

Anyway, thanks in advance.

[mkccp2]

I'm an American, and I didn't apply for the residency certificate from the IRS. I'm only here for 6 months, taxes aren't high enough to outweigh the cost of the certificate, etc. However, the other day, my mentor teacher asked me about it. Her English is very broken and I don't speak Korean, but she seemed to be implying that there was a way I could still get it. I thought I had to have it in before my first paycheck to have it count, but she wanted me to go through with the process. I have no idea what exactly the process entails, but could anyone offer any insight on this matter?

[sho]

Hi,

When filling out the 8802 (application for the Certificate of Residency), am I filling it out for the year I will be spending in Korea or for a previous year?  Ie. when it asks for my address (number 2), do I put my Korean or American one?  And when it asks for the year I want the certification, do I place the year I'm about to work in Korea or a previous one?

I ask because it's a form to prove residency, so it makes sense that I would stick in my US address and tax info from a previous year (for number 5) when I was actually residing in the States. 

Sorry if this question is obvious or been asked (I found it hard to search for).

SO: If I do fill it out for March 2012-March 2013 (the year I will be working in Korea), Do I write "Yes" for number five (was the applicat required to file a US tax form for the tax periods) and write "other" and say I will be filling out the 2555?

*Also, I have never filed taxes in the US (recent grad, never made enough money).  I'm going to put my Social Security for my taxpayer ID. 

[anel0701]

Does anyone have experience with efax.com? I used the service to fax my 8802 form because I couldn't find any places in my city that would let me send an international fax. I got a confirmation that the fax was sent successfully but I haven't heard anything from the IRS. Is that normal?
Also, when you get a tax credit back at the end of the year for the Korean taxes that were deducted before you got your tax exemption form in, do you have to fill out paperwork or do anything to get it back or do they just give it to you?

Thanks

[Steve Holt!]

Obviously Tax Day has already past, butttt I neglected to file yet. I know, i'm an idiot.

This is actually my first time filing taxes on my own without the aid of a parental unit.

I haven't even lived in the US for the last year, so I have no US income.  I never got my residency certificate from the IRS (although I tried my damnedest repeatedly) so I have indeed been getting taxed by the Korean Govt since I got here in Sept 2010.

Just looking for guidance on how exactly I should file?

Thanks.

[justanotherwaygook]

Obviously Tax Day has already past, butttt I neglected to file yet. I know, i'm an idiot.

This is actually my first time filing taxes on my own without the aid of a parental unit.

I haven't even lived in the US for the last year, so I have no US income.  I never got my residency certificate from the IRS (although I tried my damnedest repeatedly) so I have indeed been getting taxed by the Korean Govt since I got here in Sept 2010.

Just looking for guidance on how exactly I should file?

Thanks.

File a 1040.  Get an foreign income exclusion using form 2555.  This means you don't have to pay taxes on foreign income (up to $90,000 approximately).

Lucky for you, you're not late.  Since you're abroad, you get an automatic 2-month extension (details in the instructions for form 2555).  Just attach a signed letter to your tax return stating this.  No need to apply ahead.

Don't forget to file an FBAR, if you have had over $10,000 total in foreign accounts last year.  This is due June 30th and is seperate from your taxes.

[justanotherwaygook]

Hi,

I'm filling out my American tax forms.  To my knowledge, we're supposed to report our housing (how much our employer pays for rent).

However, I found out today that my school is doing Jeonse, not Wolse.  Therefore, there is no monthly payment to speak of.  Therefore, how do I report this, if I report it at all?

Thank you.