Korean Job Discussion Forums

[tonyvu]

Im getting ready to file my taxes with the IRS in a few months and im wondering if it's necessary to include the previous job (quit in august) i had back home along with the new job here in korea that started in september.

Would it be acceptable if i just filed the previous job information and left out the korean job info since i've only been in Korea for a short time?

[Drew345]

Your going to have to check this, but here is where I would start checking.

Of course you have to put down income in the year it is earned. Income earned from Sept to Dec is on 2009 taxes.
If you are out of the country 11 month out of a year, then the foreign income is not taxed directly, you get a "foreign earned income exclusion". What is done is that the foreign income will cause your US income to go up into a higher tax bracket. This is called "Stacking Provision" or "stacking rule".
Since you don't get the foreign earned income exclusion until you are out of the country 11 month, you need to wait until next September to file your taxes. You get an automatic extension until Oct 15 if you are out of the country on April 15; but you need to pay any taxes owed by April 15 (make a guess if you think you owe taxes).

Search:
Foreign Earned Income Exclusion
Foreign Earned Income Physical Presence Test
Foreign Earned Income Stacking
Automatic Extension

and maybe use TurboTax to do your taxes since all these are covered in Turbotax.

[Geckoman]

Here's an earlier thread about filing your taxes while abroad:

ATT AMERICANS!: FILE YOUR FEDERAL INCOME TAXES BY JUNE 15TH!
http://forums.eslcafe.com/korea/viewtopic.php?t=154390

[Drew345]

Looks like I was wrong about getting the automatic extension until Oct 15, seems it is automatic extension to June 15, then apply for another one.
Anyway, searching those terms will get you pointed in the right direction.