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Tribal
Joined: 27 Dec 2008
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 Posted: Thu Mar 12, 2009 10:15 pm Post subject: US Tax Questions |
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| So I've did some searching on the boards here and still have some questions. Are Korean companies now withholding US taxes of teachers? I'm getting ready to head back over after a four year absence, and I never had that happen before. I only had to pay the wonderfully low Korean tax. I know that US citizens are still supposed to file, regardless of whether or not they actually pay. But Korean HR departments withholding against a US citizen filing their return? That doesn't sound right. Please give me the dl. Thanks... |
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The_Source
Joined: 09 Oct 2008
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| Posted: Thu Mar 12, 2009 10:30 pm Post subject: |
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| Where did you hear that? |
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warren pease
Joined: 12 May 2008
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| Posted: Fri Mar 13, 2009 1:49 am Post subject: |
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Unless we're making something like $86,000 a year we don't owe a cent to Uncle Sam, so what pretense could they have to taking out taxes? What, just in case we get a 6 million won raise?
Please let us know where you got your information. |
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Tribal
Joined: 27 Dec 2008
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| Posted: Fri Mar 13, 2009 12:21 pm Post subject: |
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| warren pease wrote: |
Unless we're making something like $86,000 a year we don't owe a cent to Uncle Sam, so what pretense could they have to taking out taxes? What, just in case we get a 6 million won raise?
Please let us know where you got your information. |
I saw it mentioned in an earlier post on taxes here in the forums. That's why I'm double-checking - so many people act like they know what's up, but so often they turn out to be incorrect.
I'm assuming that this info is incorrect (i.e. that they do not/cannot withhold for US taxes). And I know that unless you're making more than most ESL teachers make, that you won't pay taxes. But here's another question:
Do Korean companies have an obligation to the IRS to report that you are actually working there? In other words, do they have to complete some type of form and report your employment to the IRS? My guess is no, but I'm wondering if things have changed over there. Thanks! |
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sojusucks
Joined: 31 May 2008
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| Posted: Sat Mar 14, 2009 8:31 pm Post subject: Re: US Tax Questions |
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| Tribal wrote: |
| So I've did some searching on the boards here and still have some questions. Are Korean companies now withholding US taxes of teachers? I'm getting ready to head back over after a four year absence, and I never had that happen before. I only had to pay the wonderfully low Korean tax. I know that US citizens are still supposed to file, regardless of whether or not they actually pay. But Korean HR departments withholding against a US citizen filing their return? That doesn't sound right. Please give me the dl. Thanks... |
That sounds very shady. Korean companies don't have a US empoyer number thingy. I think the company is pocketing the money.
I know that citizens from various countries are tax-exempt for a certain period. I think that it is 2 years for Americans.
Go to http://www.nts.go.kr/, click English, then Resources, Tax Treaty, and finally, your country. |
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dragstar
Joined: 12 Mar 2009
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| Posted: Sat Mar 14, 2009 8:50 pm Post subject: |
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| You're exempt for ur first two years, after that you pay K-taxes. You file ur US taxes each year but if u don't make above 87,000US than u don't owe any taxes. Obama may change that though...aren't u just glad he's pres (maybe u voted for him)? I'm not! He's the money man. Wonder if he'll pay off my mortgage? I have to say this though, he's really getting the deficit in line...inline for my great grandchildren to pay. He's wonderful! |
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I-am-me
Joined: 21 Feb 2006
Location: Hermit Kingdom
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| Posted: Sun Mar 15, 2009 4:19 am Post subject: |
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I saw this coming. Obama will go after our money in swiss accts. No more tax havens.  |
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