Korean Job Discussion Forums

[jdog2050]

Hey guys,

Any info on doing taxes? I worked at a public school for two years, and they never really gave us our tax info.

I'm now working at a company, and I'm the first foreigner to work here, so no one has a clue what to do.

Extra info:
I'm american, work on an E7 visa, have been working with this company since 2008.

[jackson7]

Your employer should do your Korean taxes for you, file, and then you'll receive the tax refund (most teachers overpay their taxes during the year) get in your January (or February if they're a little behind) paycheck. If you haven't received that, welcome to Korea and it's wonderful respect of the laws, both minor and major.

If you're talking about American taxes, you need to fill out the foreign income exclusion form (2886 or something along those lines...just search for 'foreign income exclusion' on the IRS website). You qualify for it if you are here for 11 of the last 12 months or thereabouts. If you don't qualify, they (the IRS) recommend on their website to file an extension (it's free) until you DO qualify for it, therefore paying no taxes (up to about 85,000 USD) on your foreign income.

[postfundie]

for Americans I believe it's the form 2555ez see instructions to see if you qualify..

for former years look here...
http://www.irs.gov/formspubs/article/0,,id=169996,00.html