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US tax form 2555: foreign earned income

 
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MollyBloom



Joined: 21 Jul 2006
Location: James Joyce's pants

PostPosted: Tue Apr 08, 2008 7:48 am    Post subject: US tax form 2555: foreign earned income Reply with quote

I am in the US now, and told that this form is the only one I need to fill out. Is this true? Thanks:)
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bacasper



Joined: 26 Mar 2007

PostPosted: Tue Apr 08, 2008 7:50 am    Post subject: Reply with quote

For your whole life?
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Ut videam



Joined: 07 Dec 2007
Location: Pocheon-si, Gyeonggi-do

PostPosted: Tue Apr 08, 2008 7:53 am    Post subject: Reply with quote

2555 must be filed WITH 1040, not in lieu of it.
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MollyBloom



Joined: 21 Jul 2006
Location: James Joyce's pants

PostPosted: Tue Apr 08, 2008 8:01 am    Post subject: Reply with quote

Ut videam wrote:
2555 must be filed WITH 1040, not in lieu of it.


Okay, thanks!
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daz1979



Joined: 29 Apr 2006
Location: Gangwon-Do

PostPosted: Tue Apr 08, 2008 9:56 am    Post subject: Reply with quote

Give them nothing! Just tell them you were travelling upon return to the UK! Not worth paying the �1,600 a year when they have no way to prove that you worked.
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MollyBloom



Joined: 21 Jul 2006
Location: James Joyce's pants

PostPosted: Tue Apr 08, 2008 2:27 pm    Post subject: Reply with quote

I just filed everything and I don't owe or get anything. But it did take me about an hour. The language confuses me because sometimes the questions don't make any sense.
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Bibbitybop



Joined: 22 Feb 2006
Location: Seoul

PostPosted: Tue Apr 08, 2008 4:27 pm    Post subject: Reply with quote

daz1979 wrote:
Give them nothing! Just tell them you were travelling upon return to the UK! Not worth paying the �1,600 a year when they have no way to prove that you worked.


American taxes don't charge you tax on income under $85,000 a year if you've been outside the USA for at least 330 days of the 365 days in a year. Not filing taxes can make things difficult for you later in life, especially with your credit history as they think you made no income.
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hagwonnewbie



Joined: 09 Feb 2007
Location: Asia

PostPosted: Tue Apr 08, 2008 6:58 pm    Post subject: Reply with quote

There is a 2555ez that is a little simpler.
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gosia



Joined: 10 Jan 2006

PostPosted: Wed Apr 09, 2008 2:14 pm    Post subject: taxes Reply with quote

So we have to fill out the 1040 and 2555 (or 2555ez). But what about other years? I have not filed in three years and am wondering if I would use the same forms to do the other two years?

I went to the H&R Block guy in Itaewon, but he needs tons of paperwork that my old school simply won't give me...

Thanks
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xCustomx



Joined: 06 Jan 2006

PostPosted: Tue Jun 03, 2008 6:51 pm    Post subject: Reply with quote

Did any of you include the money you made from teaching privates as part of your income? If I made $26,000 last year, but transfer more than that to my bank account back home, wouldn't it look a little strange to the IRS? (if they ever decided to audit me)
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spliff



Joined: 19 Jan 2004
Location: Khon Kaen, Thailand

PostPosted: Tue Jun 03, 2008 11:16 pm    Post subject: Reply with quote

I haven't filed in over 20 yrs. What do you suggest. I don't want to loose out on my Social security. Very Happy
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hagwonnewbie



Joined: 09 Feb 2007
Location: Asia

PostPosted: Thu Jun 05, 2008 8:09 pm    Post subject: Reply with quote

Your debt to the IRS may excede any SS benefits you would receive. I think you're f'ed, but I'm not a tax attorney. You could go seek advice from one, but they might be able to give you any better advice. Attorneys don't know everything, and they cost a lot of money. If it were me, I would go ahead and file for the past 3 years, and pray that I'm not audited and/or accused of owing. I hope you have some records.
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spliff



Joined: 19 Jan 2004
Location: Khon Kaen, Thailand

PostPosted: Fri Jun 06, 2008 5:31 pm    Post subject: Reply with quote

Hmmm...how do I file? When is the deadline?
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