Korean Job Discussion Forums

[dharma bum]

I know Americans get an automatic two-month extension before they have to file their taxes, but to qualify for the physical presence text (330 days), I need an extension until around September (I came on September 15, 2006). Does an extension like this exist and, if so, does anyone know the form number for it? If it doesn't exist, is there any other way to handle a situation in which a person doesn't pass the physical presence test until late in the year? I'd really appreciate any help anyone could offer.

[Bibbitybop]

You will need to file IRS form 2350 which is asking for an extention on filing your 2006 taxes. Once you have been in Korea for 330 days you can file your 2006 tax return. You can ask to file before your 360th day in Korea.

If your school has not yet received your Residency Certification you will need to call the IRS to see when they mailed it out to your school. If they do not have your form on file you will need to fill out IRS form 8802. (The IRS will send your school form 6166.) You need to make sure your certification is for both 2006 and 2007. If you plan to stay another year you can also ask for 2008. You will also have to send in a $35.00 processing fee with form 8802. If your school has been taking out taxes and you are a US citizen then they will have to give you all of that money back. So make sure you turn in the proper forms. It takes 30 days to process form 8802.

If you have any other questions you can call the IRS at 1-215-516-2000. You can also find the form 8802 in the IRS website. www.irs.gov.

[dharma bum]

Thank you very much. Do you know if the Residency Certification is absolutely necessary though? The reason I ask is that I was here from February to July last year but had to leave from July to September. When I did that, I left my job and then became a student here after returning, so there's no employer to fill out the certification form. Do you think I could still fill out the extension application without this?

[dogshed]

[dogshed]

[dogshed]

[dogshed]

[mehamrick]

I am with the above on this one.. If you have a w-2 from the states you will have to file a return on that.. you will not be exempt from it.

[mole]

Not recommended, but I tend to get over..
I never filed, then finally filed '97~'03 all in one envelope in late '04.
Never filed for extensions, either.
Now I'm only 3 returns behind.
(DID file for extension for '06, though.)

[Bibbitybop]

[J.B. Clamence]

[Zyzyfer]

[lastat06513]

You get a 3-year grace period for each tax year you spend overseas. The extension is used and given if you owe "uncle sam" tax money (IE, working for a government entity or for a US-owned company), but if your income is foreign-originated, you can file a form 1040 (you can file a 1040EZ if you are single and are not married) to declare your formal income and then attach it to a form 2555, that gives the dates you spent overseas, that might qualify you for the overseas tax exemption.

To qualify for the tax exemption;

1. You need to be away from the US for 1 full calendar year.
2. Be away from the US for a time that adds up to 12 months from the time you left the US.

I know this because I filed last October for TY-2002 all the way to TY-2005 with no problems. And for TY-2006, this is my first year filing for income coming from my work in the US.

Go consult with a tax expert before accepting any info on this board to make sure you are getting accurate info about how to file taxes. It can save you alot of money and headaches....

[dharma bum]

Thanks again to everyone for the help. To respond to some of the replies, I'm a little concerned too about whether I can include income (even though it was earned overseas) that was earned outside of my physical presence test qualifying period. However, I remember from filling out the form before that you do some calculation based on the number of days of your physical presence test qualifying period that were part of the tax year (in this case 2006) and, from that, are given your exemption amount. In my case, I believe this amount will be enough to cover the amount I earned from March to July of last year (as long it's possible to use the exemption toward that income).

In terms of W2s from the States, I don't have one for one last year so that's not an issue. I've thought about changing my filing period, but that's not really what I want to do here. Instead, I'm just trying to pass the physical presence test for last year's return.

With all that said, does anyone with any insight into the foreign-earned income from outside of the physical presence test period question? Thanks again for all of the responses. They've brought up some good questions and been very helpful.

[dogshed]