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Tax Exemption (US Citizen)
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aarondo



Joined: 09 Aug 2011

PostPosted: Tue Jan 17, 2012 4:10 pm    Post subject: Reply with quote

Hi, not sure if I missed the answer power-skimming through this thread, but is there any difference in filing the 8802 if I have never filed a tax return before? Thanks in advance for the help!!
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jrk888



Joined: 22 Jun 2011

PostPosted: Wed Jan 18, 2012 11:30 am    Post subject: Reply with quote

Here are my questions that I need answered straightforward.

Last time I filled out the 1040 was in 2010. So then I put, in like 8, "Tax period on which certification will be based", 2010, correct?

As far as line 7, where it said Calendar year for which certification is requested, I am moving to Korea in one month, so I put 2012? Do I want this for 2012? Because if I want it for 2012, that means that I have to swear by penalties of perjury that I am a US resident and will continue to be throughout the current tax year. However, I will be living in Korea. Am I still a US resident if I don't pay taxes to Korea?
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DanseurVertical



Joined: 24 Nov 2010

PostPosted: Thu Jan 19, 2012 7:42 pm    Post subject: paying tax & personal financial information Reply with quote

Since I will not have a US residency certificate in time to avoid taxation I will soon have to pay Korean tax (and subsequently apply for a tax refund)

My school has also told me I must (in addition) provide a month-by-month documentation of my bank account balance.

I've ultimately learned not to ask why when dealing with superiors at my school, so I'm posting here. For a government to require information about your personal debit account history seems strange and invasive from a US standpoint.

So maybe first, does my school even understand this correctly?
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isitts



Joined: 25 Dec 2008
Location: Korea

PostPosted: Thu Jan 19, 2012 8:18 pm    Post subject: Re: paying tax & personal financial information Reply with quote

DanseurVertical wrote:
Since I will not have a US residency certificate in time to avoid taxation I will soon have to pay Korean tax (and subsequently apply for a tax refund)

My school has also told me I must (in addition) provide a month-by-month documentation of my bank account balance.

I've ultimately learned not to ask why when dealing with superiors at my school, so I'm posting here. For a government to require information about your personal debit account history seems strange and invasive from a US standpoint.

So maybe first, does my school even understand this correctly?


Um...I'm not sure why they would need that. I would certainly question them about it.

Are they having you pay your Korean tax all in one lump sum? If so, they might just be concerned with wiping out what you have in there. But I don't think they need to know what you have in your account. They keep records of what they pay you.
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DanseurVertical



Joined: 24 Nov 2010

PostPosted: Fri Jan 20, 2012 12:48 am    Post subject: Re: paying tax & personal financial information Reply with quote

isitts wrote:

Um...I'm not sure why they would need that. I would certainly question them about it.

Are they having you pay your Korean tax all in one lump sum? If so, they might just be concerned with wiping out what you have in there. But I don't think they need to know what you have in your account. They keep records of what they pay you.

The document they seem to want is a profile of my check card usage (which seems even more nonsensical...) So I went to my bank and obtained one.

Allegedly in Korea, if you spend under a certain amount in a given year relative to your total income, you're given an income tax break. I was given the example scenario of a 200,000won tax amount being reduced by 100,000won for an individual who spent 1/3 his income for the given year.

---

I just think it's a little ironic that my co-teacher would assume a demanding, imperative attitude on an issue that's solely for my benefit and which will have no relevance should I obtain a tax refund. But by now I've learned to expect demanding, imperative attitudes on arbitrary or inconsequential matters. Anyway!
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isitts



Joined: 25 Dec 2008
Location: Korea

PostPosted: Fri Jan 20, 2012 12:55 am    Post subject: Re: paying tax & personal financial information Reply with quote

DanseurVertical wrote:
isitts wrote:

Um...I'm not sure why they would need that. I would certainly question them about it.

Are they having you pay your Korean tax all in one lump sum? If so, they might just be concerned with wiping out what you have in there. But I don't think they need to know what you have in your account. They keep records of what they pay you.

The document they seem to want is a profile of my check card usage (which seems even more nonsensical...) So I went to my bank and obtained one.

Allegedly in Korea, if you spend under a certain amount in a given year relative to your total income, you're given an income tax break. I was given the example scenario of a 200,000won tax amount being reduced by 100,000won for an individual who spent 1/3 his income for the given year.

---

I just think it's a little ironic that my co-teacher would assume a demanding, imperative attitude on an issue that's solely for my benefit and which will have no relevance should I obtain a tax refund. But by now I've learned to expect demanding, imperative attitudes on arbitrary or inconsequential matters. Anyway!


This sounds a little weird. Sorry I couldn't be of much help. But I'm sure someone must have been in you're shoes. I'd keep bumping your other thread.

Good luck!
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cazzy3



Joined: 07 May 2008
Location: kangwon-do

PostPosted: Tue Jan 31, 2012 5:33 am    Post subject: Reply with quote

As per the check card print out: you are entitled to get a refund on the sales tax you spent while in Korea. This is for your benefit. Most schools don't even bother with this for their teachers so you may be able to receive a small refund. I don't know what the percentage is but it may add up to a couple of hundred thousand won. That's why it's better to use your card when possible in lieu of cash.

BTW: I hate dealing with taxes in Korea!!! I've been here 6 years and every institution does things their own way. Why do we have to rely on our employees to handle our taxes? Are there CPA's in Korea?

Cheers all.
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Koramer



Joined: 08 Jan 2012

PostPosted: Tue Jan 31, 2012 7:12 am    Post subject: Regarding setting up Tax Exemption in Korea Reply with quote

I'm a first time English teacher in Gyeonggi-do. I found out about the ability to file for tax exemption in Korea only a few days ago when my contract arrived. I can submit an 8802 form to the IRS asap, but what my main concern is, can I apply for tax exemption in Korea anytime of the year or are there specific deadlines? I had read somewhere that the filing end date in Korea would be February 9th, and its already Feb 1st, the IRS said it could take up to two months for the Resident Certificate to arrive by mail. So, if what I hear was correct and the dead line is Feb 9th then its too late for me to apply. Please help! ~.~

Q: Can we English teachers in Korea apply for Korean Tax Exemption anytime of the year or are there specific deadlines?

Also, anyone here go through EPIK and/or the NIIED for teaching work before?
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isitts



Joined: 25 Dec 2008
Location: Korea

PostPosted: Tue Jan 31, 2012 7:23 am    Post subject: Re: paying tax & personal financial information Reply with quote

DanseurVertical wrote:
isitts wrote:

Um...I'm not sure why they would need that. I would certainly question them about it.

Are they having you pay your Korean tax all in one lump sum? If so, they might just be concerned with wiping out what you have in there. But I don't think they need to know what you have in your account. They keep records of what they pay you.

The document they seem to want is a profile of my check card usage (which seems even more nonsensical...) So I went to my bank and obtained one.

Allegedly in Korea, if you spend under a certain amount in a given year relative to your total income, you're given an income tax break. I was given the example scenario of a 200,000won tax amount being reduced by 100,000won for an individual who spent 1/3 his income for the given year.

---

I just think it's a little ironic that my co-teacher would assume a demanding, imperative attitude on an issue that's solely for my benefit and which will have no relevance should I obtain a tax refund. But by now I've learned to expect demanding, imperative attitudes on arbitrary or inconsequential matters. Anyway!


Actually, given a second reading (and with cazzy3's explanation), this does make sense. Sounds like your school is having you do this to reduce the tax you owe. That's not alleged what they're telling you. They're trying to help you. They aren't prying into your financial affairs, it's just since you're not a local, they have to hold your hand through the process (as with so many other things).
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Nuggets



Joined: 23 Nov 2009

PostPosted: Wed Feb 01, 2012 8:08 pm    Post subject: Reply with quote

So, I've got this weird situation. I'm a US citizen, and this is my second year in Korea.

My last school filed everything for me, I just gave them the residence certificate and filled out a form.

I've been located to a new school for my second year. Everyone thought that since my last school applied for me, I would not have my second year.

It turns out that I'm supposed to give them all the documents to apply again! And I was told this on MONDAY! I also was told I have until the end of this week to provide them, and applying for another residence certificate would take over a month to receive, I'd have to pay.

I guess my question is, can I still file the documents late and then refund all the taxes I'm going to pay?
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ptaza



Joined: 03 Mar 2011

PostPosted: Thu Feb 09, 2012 11:57 pm    Post subject: Reply with quote

Hi there, I'm kind of seconding Koramer's question. Are there deadlines?
We have all the necessary docs and then our bosses went a bit nuts on us. So we'v been sitting on them for a few months. Is it now too late?

Also, for the aforementioned reason, we'd rather do this ourselves, rather than submit the paperwork to our bosses. We know where the tax office is, we've been there and tried to give them our papers. She said that the season starts in May and to come back then. So, again, would this be too late, if it's not already?

thanks for any insight!
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bbunce



Joined: 28 Sep 2011

PostPosted: Wed Feb 22, 2012 4:11 pm    Post subject: Reply with quote

I'm leaving Korea and will have less than 330 days in country. Can I go to any tax office to get my taxes back? (I worked in 2 different cities) I'm a US resident. Thanks...
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isitts



Joined: 25 Dec 2008
Location: Korea

PostPosted: Wed Mar 14, 2012 5:53 am    Post subject: Reply with quote

bbunce wrote:
I'm leaving Korea and will have less than 330 days in country. Can I go to any tax office to get my taxes back? (I worked in 2 different cities) I'm a US resident. Thanks...


Might need a little more info than that to help you. How did you file last time? Being here 330 days is for American taxes, not Korean. What tax office are you talking about? A Korean tax office? Why were you paying tax in Korea? Were you here more than two years or working in a hagwon?

If you were paying taxes in Korea, but were in Korea for less than 330 days of the tax year, then you can calculate your exemption accordingly on the 2555 form. You won't get the full exemption being in Korea less than 330 days, but you can still get a partial exemption. And the closer to 330 days you were in Korea, the less likely it'll be that you'll owe taxes in America.

But that might just be if you're going by the physical presence test. If you were already past the two year period with the residency certificate and you listed Korea as your tax home, then you might not owe anything to the US that way. But I'm not sure on that.
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Gorf



Joined: 25 Jun 2011

PostPosted: Sat Mar 24, 2012 10:17 am    Post subject: Reply with quote

Okay, weird one. I was on unemployment from January 2011 to July 2011. I opted to have my unemployment checks pre-taxed so that I didn't have to pay the tax on it back later, so that shouldn't be a problem. I'm not sure how or even if I have to report that on my taxes.

I came to Korea in August 2011. I switched schools in December 2011. I have no W-2, but I have the residency forms that everyone said to get. My school has no idea what to do with them. I'm just confused as to how that relates to American taxes at all. Will someone call my school and ask for them to fax them my form or what? How do I file a 1040EZ without a W-2? What the heck am I supposed to do? I know I definitely haven't made more than $80,000 or whatever that limit was. How exactly do I file for taxes when I have no documentation? I just write all zeros on my turbotax forms?
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isitts



Joined: 25 Dec 2008
Location: Korea

PostPosted: Sun Mar 25, 2012 12:59 am    Post subject: Reply with quote

Gorf wrote:
Okay, weird one. I was on unemployment from January 2011 to July 2011. I opted to have my unemployment checks pre-taxed so that I didn't have to pay the tax on it back later, so that shouldn't be a problem. I'm not sure how or even if I have to report that on my taxes.

I came to Korea in August 2011. I switched schools in December 2011. I have no W-2, but I have the residency forms that everyone said to get. My school has no idea what to do with them. I'm just confused as to how that relates to American taxes at all. Will someone call my school and ask for them to fax them my form or what? How do I file a 1040EZ without a W-2? What the heck am I supposed to do? I know I definitely haven't made more than $80,000 or whatever that limit was. How exactly do I file for taxes when I have no documentation? I just write all zeros on my turbotax forms?


Didn't I already answer your question somewhere else? Wink I don't know what you do with with the unemployment income. I'd call the IRS or check their website on that. I'm still not clear what you mean by "pre-taxed". You mean you receive the money before it's taxed or tax is deducted from it before you receive it? Anyway, I would imagine you still have to file for it somehow. Turbotax doesn't walk you through that?

As for the rest of your question, pretty sure it's answered between pages 4 and 6 on this thread. Look at the posts by naturegirl.

What kind of school do you work for? Public? Hagwon? If public, not sure why they don't know what to do with your residency certificate. If hagwon, the certificate is useless and will be taxed in Korea.

In either case, you'll be filing a 1040, 2555 (no EZs), and two extentions (to fullfill the physical presence test). You don't need W-2s to file your taxes.

*note: The basic (free) version of turbotax doesn't have a 2555 form.*
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