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Swampfox10mm
Joined: 24 Mar 2011
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 Posted: Sun Sep 22, 2013 11:32 pm Post subject: |
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| nicwr2002 wrote: |
http://www.youtube.com/watch?v=02n1wBwrSOo
According to this website the threshold for filing is 200,000 for single filers and 400,000 for married couples. I don't think that many people in the ESL industry have that much in assets. |
It could affect some of us. We own our house, and I file single. That is how the IRS instructed how to file, despite my being married to a Korean. |
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nicwr2002
Joined: 17 Aug 2011
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| Posted: Mon Sep 23, 2013 9:53 pm Post subject: |
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| Swampfox10mm wrote: |
| nicwr2002 wrote: |
http://www.youtube.com/watch?v=02n1wBwrSOo
According to this website the threshold for filing is 200,000 for single filers and 400,000 for married couples. I don't think that many people in the ESL industry have that much in assets. |
It could affect some of us. We own our house, and I file single. That is how the IRS instructed how to file, despite my being married to a Korean. |
Wow, they won't even give us the benefits of being married either??? |
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ajuma
Joined: 18 Feb 2003
Location: Anywere but Seoul!!
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| Posted: Thu Sep 26, 2013 5:19 am Post subject: |
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I was thinking about this last night and was wondering about something.
In the US, we use our Social Security numbers for reporting income. Korean banks never ask for our SS number. So how in the world will they know we're American? |
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hogwonguy1979
Joined: 22 Dec 2003
Location: the racoon den
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| Posted: Thu Sep 26, 2013 5:29 am Post subject: |
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| ajuma wrote: |
I was thinking about this last night and was wondering about something.
In the US, we use our Social Security numbers for reporting income. Korean banks never ask for our SS number. So how in the world will they know we're American? |
very easy, your arc has your nationality on it, if they don't notice there when they run your arc # it will pop.
not that hard |
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Weigookin74
Joined: 26 Oct 2009
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| Posted: Thu Sep 26, 2013 9:36 pm Post subject: |
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| Wow! What happened to America? I use to really admire her free enterprise and adventurious spirit. Now, it has become a Communist country. Man! That's sucks for you guys. I can see folks renouncing their citizenship. What a colossal pain in the @$$ that must be. Sure glad Canada's not like that. I filed my taxes first year here and told them I'm not a resident of Canada anymore. They said "Ok, cool." That was pretty straight and cut. Pretty easy. You 'muricans got to recover your freedom. (To think, I almost immigrated there. That old 3 point something unemployment rate looked so good to me back in the day. Glad, I came here instead.) |
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Ginormousaurus
Joined: 27 Jul 2006
Location: 700 Ft. Pulpit
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| Posted: Fri Sep 27, 2013 6:40 am Post subject: |
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| Weigookin74 wrote: |
| Wow! What happened to America? I use to really admire her free enterprise and adventurious spirit. Now, it has become a Communist country. Man! That's sucks for you guys. I can see folks renouncing their citizenship. What a colossal pain in the @$$ that must be. Sure glad Canada's not like that. I filed my taxes first year here and told them I'm not a resident of Canada anymore. They said "Ok, cool." That was pretty straight and cut. Pretty easy. You 'muricans got to recover your freedom. (To think, I almost immigrated there. That old 3 point something unemployment rate looked so good to me back in the day. Glad, I came here instead.) |
You're correct, Weigookin74. It's happening already.
Americans renouncing U.S. citizenship surged sixfold in the second quarter from a year earlier as the government prepares to introduce tougher asset-disclosure rules. |
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I'm With You
Joined: 01 Sep 2011
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| Posted: Fri Sep 27, 2013 2:46 pm Post subject: |
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| Edwardo whatever his last name is of Facebook fame did just that and moved to Singapore where there aren't any withholding taxes on capital gains. It was going to cost him millions of dollars in taxes just to hold on to his US passport. |
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Konglishman
Joined: 14 Sep 2007
Location: Nanjing
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| Posted: Fri Sep 27, 2013 8:15 pm Post subject: |
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Just great! Time to start looking at various possibilities such as moving my Korean savings to China or elsewhere.
And honestly, this does make me want to change citizenships. |
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hellofaniceguy
Joined: 10 Jan 2003
Location: On your computer screen!
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| Posted: Sat Sep 28, 2013 3:23 pm Post subject: |
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| 12ax7 wrote: |
Yet another attempt to expand the territorial application of American law?
With that said...
I strongly doubt that Korean banks will turn you away. But, if I were American I'd move my liquid assets to a local credit union. They most probably don't have any US-sourced income to be taxed for non-compliance. |
And it's the fault of the American voters for electing knuckleheads that allow things like this to happen. |
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Stan Rogers
Joined: 20 Aug 2010
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| Posted: Sat Sep 28, 2013 6:11 pm Post subject: |
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| I know an American who gave up his citizenship because he knew this was coming. He said American citizenship comes with all the responsibilities and no benefits. |
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I'm With You
Joined: 01 Sep 2011
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| Posted: Sat Sep 28, 2013 9:21 pm Post subject: |
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| hellofaniceguy wrote: |
| 12ax7 wrote: |
Yet another attempt to expand the territorial application of American law?
With that said...
I strongly doubt that Korean banks will turn you away. But, if I were American I'd move my liquid assets to a local credit union. They most probably don't have any US-sourced income to be taxed for non-compliance. |
And it's the fault of the American voters for | | |
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