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Paying Korean Taxes (US Citizens, 1st year)

 
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traydragen



Joined: 19 Dec 2011

PostPosted: Sun Feb 03, 2013 6:16 pm    Post subject: Paying Korean Taxes (US Citizens, 1st year) Reply with quote

Hey guys, sorry I know this is redundant and I've seen hundreds of pages on it, but no one really answers my simple question. My wife and I are US citizens and our first year is about to be complete in Korea in February. We have both been taxed 3.3% on every month of our paycheck until this point. I have a couple of questions:

1) Should we be getting taxed?

2) Is it possible for us to get a return on our taxes?

3) Why is our employer taxing us if we fall into the two year window for not being taxed?

4) What documents do I need in order to file and when should I file by?


Thank you so much!!
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ttompatz



Joined: 05 Sep 2005
Location: Kwangju, South Korea

PostPosted: Sun Feb 03, 2013 7:40 pm    Post subject: Re: Paying Korean Taxes (US Citizens, 1st year) Reply with quote

traydragen wrote:
Hey guys, sorry I know this is redundant and I've seen hundreds of pages on it, but no one really answers my simple question. My wife and I are US citizens and our first year is about to be complete in Korea in February. We have both been taxed 3.3% on every month of our paycheck until this point. I have a couple of questions:

1) Should we be getting taxed?

2) Is it possible for us to get a return on our taxes?

3) Why is our employer taxing us if we fall into the two year window for not being taxed?

4) What documents do I need in order to file and when should I file by?

Thank you so much!!


1) Yes, UNLESS you have been working for a public school, publicly funded university or a government job.

2) It is possible to get a refund on taxes that you have overpaid (if you are a teacher then about 1.7% of your income since you were taxed (3.3%) at nearly double the required rate assuming you earn an average salary.

3) Not a government job (taxes payable) or no IRS form 6166 on file (if you work at a government job).

4) Forms are available on the NTS website:
http://www.nts.go.kr/eng/

.
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