Korean Job Discussion Forums

[Tumbleweed]

Okay! I looked on the FAQ board for something about American taxes, but the thread linked in the sticky is a dead link. So I'm asking here!

So, I'm looking at a position in Ilsan that starts in mid-Feb.

However, my parents are getting a little worried about how I'm going to take care of my American taxes over there. They're afraid I'm not going to meet the 330-day 'Long term residence' requirement, and thus my Korean earnings won't be exempt in 2011, and thus I'll get hit with a big chunk of Social security/Income Tax stuff once I come back.

But, looking at the other side of this, I'm not entirely sure if they're right- mostly because if people DID get reamed on a regular basis after returning from Korea, I imagine I would've already heard warnings about it on a board like this.

So, what kind of information am I missing here, folks? Thanks for the help!

[StMichael]

I believe its 330 consecutive days.

http://www.irs.gov/faqs/faq/0,,id=199670,00.html

"A U.S. citizen or a U.S. resident alien who is physically present in a foreign country or countries for at least 330 full days during any period of 12 consecutive months."

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[tombanjo]

330 consecutive days or 330 days during 12 consecutive months? the quote you posted would say 330 days during 12 consecutive months, which is my understanding of it.

[redaxe]

[melirae1976]

When you are living abroad at the time taxes are due, April 15th, you get an automatic 2-month extension on your taxes (until June 15th- at which point you can file for another extension and have until October 15th). Take that extension, then when you file, you'll meet the 330-day rule.

330 day Rule:
http://www.irs.gov/faqs/faq/0,,id=199670,00.html

Tax Guide for US Citizens Abroad:
http://www.irs.gov/publications/p54/index.html

You shouldn't owe taxes or social security, as the US and S Korea have a tax treaty- when we work here, we pay taxes and into their pension system. We get the pension back when we leave and Koreans going to the US have the same deal with social security (I think). As long as you're making under $91K, you're fine- you probably don't owe. If you're making over $91K, are there any other openings where you work?