Korean Job Discussion Forums

aweitzm1 · Joined: 23 Mar 2010 Location: Florida

I know it is about a month early but I was wondering about a tax issue.

I work at a hagwon and need to file taxes back in the States. I will be asking for an extension so I do not have to pay taxes on what I made outside of the States last year.

My question is though when I file for my taxes how do I show proof of what I made in Korea? I wont receive a W2 like I will for my old company before I moved to Korea. I also haven't saved all my pay stubs. I never filled out taxes from outside the US so I would appreciate any information.

Thanks in advance

millyfrend · Joined: 29 Apr 2010

If you don't have all of your tax info (paperwork) in time, you can file an extension. It gives you six more months. Also, this link give you rules about living outside of the United States.

http://www.irs.gov/formspubs/article/0,,id=98155,00.html

millyfrend · Joined: 29 Apr 2010

This is what someone else said:

I work at a public school but have many expat friends who work at hagwons in my neighborhood and from what I have heard is that Korean taxes will be taken out of your paycheck, or you will be required to pay them at the end of the year. The tax treaty only applies to educational institutions that are recognized by the Korean government(i.e. public schools, universities or colleges...). I believe the Korean tax rate for most of the teacher pay grades is about 15%.

nathanrutledge · Joined: 01 May 2008 Location: Marakesh

The tax rate is more like 2-3%, depending on the year you file.

http://www.nts.go.kr/eng/index.asp

aweitzm1 · Joined: 23 Mar 2010 Location: Florida

Thanks for the reply everyone

My specific question is not about taxes in Korea but back in the USA. I can become exempt from paying them if I was out of the country for something like 300 days of the year (not sure of the exact days) but what do I need to submit when I do file my taxes back in the USA showing my income for the year that I worked in Korea.

I believe I still need to show the amount of money I made in Korea.

Drew345 · Joined: 24 May 2005

I always got a year end statement from my place of employment.
I saved a copy, but never filed anything with my 1040 itself.
I always filed electronically, in which case you don't even attach W-2's anyway. If you are going to paper file, I don't think you need to attach anything for the foreign earned income (just save something for your record).