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matthews_world
Joined: 15 Feb 2003
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 Posted: Thu Feb 19, 2004 12:29 pm Post subject: |
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Actually, this link didn't work for me. Try to open Pub. 54 here:
Yes, these are the instructions that Americans need if they follow the minimum guidelines to claim their foreign income.
Not sure about other nationalities.
Americans fill out a Form 2555 with the 1040. You pay taxes for each dollar over $80,000.
This is required for Americans who have been working in another country for more than 330 days.
The Publication 54 will show you how to fill out the 2555. Just read it.
And yes, all expats that have been here over 330 days NEED to fill the form if they meet the minimum standards.
I've got more info at this thread: http://www.eslcafe.com/forums/korea/viewtopic.php?t=1922&highlight=
Hope this helps.
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matthews_world
Joined: 15 Feb 2003
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| Posted: Thu Feb 19, 2004 12:34 pm Post subject: |
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| Son Deureo! wrote: |
| I'm wondering the same thing as TDH above. Furthermore, my previous hogwon was not withholding my taxes for the Korean government, so how can I report my income to the IRS? |
The Pub. 54 doesn't say anything about showing proof of income earned.
I just was honest when I reported mine.
If the IRS has anything to say then they'll audit you. Just show your paystubs or bank account then.
When you fill out the 2555, you put your occupation and the type of visa you have.
They should have a general idea already of how much you should be making anyway.
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Yaya
Joined: 25 Feb 2003
Location: Seoul
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| Posted: Fri Feb 20, 2004 5:14 pm Post subject: |
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| aussie col wrote: |
This is for Australia but maybe helpful.
I found that the Australian Government doesn't make us pay tax on O/S income if we are teaching English. Some agreement they have with Korea or something.
Maybe the US has the some. |
The US is the ONLY country that makes its citizens who live abroad pay tax (albeit those who earn over $74,000 per year). To think that Clinton wanted to eliminate even that $74,000 loophole... |
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