Korean Job Discussion Forums

[kimchi9]

Are people paying US income taxes on their foreign earned income OR I've heard you can apply for an extension til Oct 15, giving one the 330 days required to pass the Bona Fide Residency Test (Physical Absence from US)??!?!?

Can anyone help??

[Jake_Kim]

In general, if you're an ordinary English teacher, it's rather unlikely that your salary - Earned Income - exceeds USD 95100 per annum, in which case you attach 2555-EZ for Foreign Earned Income Exclusion to your 1040 and modify Line 21 to exclude your foreign earned income.

6-month extension (to Oct. 15) must be applied for by filing 4868, this is NOT in addition to the automatic 2-month extension for living outside the U.S. but instead the two extensions overlap, starting from the original due date. In effect, that can be understood as 2+4, NOT 2+6. The 2-month extension extends both the due date for filing AND the due date for payment, the 6-month extension extends only the former.

The extension for the purpose of passing either the bona fide residence test or the physical presence test to qualify for the foreign earned income exclusion shall be applied for by filing 2350 which gives you 30-day extension beyond the date you can pass the test. Still, 2350 does NOT extend the due date for payment.