Korean Job Discussion Forums

[slothrop]

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[seattle7]

do what i did:

10 years no filing taxes. Account recommended only filing the past 3 with photo-copied proof of my 10 years of visas. 150 per year. You will get a $400 tax credit for 2009 (given to all Americans) and you can file online from now on.

Basically, I made 50 bucks and cleared the potential nightmare of a 10 year audit.

[ajuma]

Where did you get the proof of your visas? Immigration?

[kinship]

What i find interesting and ironic is that Americans rebelled and fought the British over taxation and now approx. 300 years later they are the leaders in taxing their people and watching every dime their people possess.

[seattle7]

passport records for proof, all you really need

[sirius black]

As others have said, its not as serious as you think in terms of jail, etc. In fact you may be owed money possibly depending on your situation.

That said, legally, all American citizens and permanent residents need to file taxes. Technically its illegal not to. Technically. If you don't owe taxes or if you own a 'small' amount, you're not going to be in any serious trouble (although the penalities and interest on a small amount can double or triple or more over time).

The IRS has 10 years to collect owed taxes. States vary. If you don't owe and are part of the typical exclusion amount that most NETs here are, just file the backones so you are legally incompliance.

[Yaya]

Plenty of long timers haven't filed their taxes in years, as in dozens of years. But if you plan on returning to the U.S., it's a good idea to file them, especially if you buy a home later, apply for student loans, bring back a Korean spouse and the like.

I hear the audit rate is under 0.5 percent for people who file.

I have also heard that the U.S. Embassy will occasionally check if someone who is renewing his or her passport has filed U.S. taxes.

[Zyzyfer]

Taxes can be so convoluted sometimes!

Quoted material from here.

[slothrop]

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[ConnorV]

I have a different tax question, but as it seems the experts are here, I will drop it in the same thread. Please let me know if I should take it elsewhere (I found nothing similar with the search function).

Anyway, I know that U.S. citizens can claim a foreign income deduction as long as they live in another country for 330+ days. However, as of the end of fiscal 2012, I have only lived in Korea for ~180 days. Can I file now and still claim the deduction, since my contract will have me here for the full year, or is it better to just get an extension and then file my 2012 taxes when I return to the States in September?

Thanks!

[Dazed and Confused]

Contact H&R Block in Seoul and they'll sort you out. My friend filed about 8 years worth of back taxes a couple months ago and it cost him a couple hundred thousand won. And, he didn't have to pay penalties either.

[Yaya]

A late friend once told me that having H&R Block on your tax return letterhead could dispel suspicion and such.

As for owing the government money, well, I owe none. I also used H&R Block Seoul a few years ago to file five years of back taxes, and the owner gave me a discount for that.