Korean Job Discussion Forums

[austinmc86]

I know there are a lot of threads that cover this, but I just read them and I am still confused.


I do not qualify for the 330 days. I did not work in the U.S. last year, but I did live there and do have a bank account.
I came to Korea in June and will be here until at least June 2011. My question is, do you I file a 1040 and 2555 tax form? Who then do I send these forms to?


Is turbotax.com a good option or H&R in Seoul better?
I know I probably do not have to pay, but I need to file, and I am just confused as to what files I need to file and who to send these to.

[interestedinhanguk]

[T-J]

If you graduated from college I'm sure you can figure put how to file a tax return�

[cayce23]

[uklathemock]

Forget sending forms. Just e-file. It's free for most people.
I use taxactonline.

[austinmc86]

Am I suppose to report the amount of money my employer pays for my apartment?

It asked for living costs (which was provided by employer, but that I did not receive cash for)... so I thought I had to include the amount of my apartment per month. However, a tax specialist said not to include it.


What do all you do?

[DHC]

Housing provided by your employer is considered income in the US.

[uklathemock]

Find a different "tax specialist." Just figure out how much the rent is per month for your place.

[austinmc86]

In the section "Enter the Value of Your Excludable Meals and Lodging" and "Employer provided goods" (or something like that), or something like that... I would provided the USD amount for rent paid?

[akcrono]

http://www.irs.gov/businesses/small/international/article/0,,id=97130,00.html

http://www.irs.gov/businesses/small/international/article/0,,id=96968,00.html

Hope this helps. Even if you include your rent, you should be under the 92,000 ceiling, and if you arent, I feel less inclined to help you

EDIT: If you read the second link, The exemption allows for ANY 12 month period, as long as its consecutive. This means that you are not bound by the 12 month tax period but rather: "You do not have to begin your 12-month period with your first full day in a foreign country or to end it with the day you leave. You can choose the 12-month period that gives you the greatest exclusion."

You can, without a doubt, qualify for the 330 day rule, unless the IRS site is wrong or there's something else I'm missing.

Sorry to hijack, does anyone know if we get the 3% we were taxed back at the end of the year? I'm hearing conflicting reports. EDIT: my girl helped me w/ this one. Since i'me from the US, no taxes for 2 years. WEEEEEEEE.

[rumdiary]

You don't earn enough in Korea to need to file taxes.

[interestedinhanguk]

[uklathemock]

[schwa]

[redaxe]

You don't have to be outside the US for 330 days out of any one TAX year! You just have to be outside the US for 330 days out of ANY one-year period that partially falls within the tax year you are filing for!

So if you came to Korea in June, and you plan to stay at least 330 days, then you can take approximately half of the deduction on your 2010 taxes and the other half of it on your 2011 taxes. The deductible income limit gets pro-rated. All the income you earn in Korea will not be taxable.

You still MUST file though.