| View previous topic :: View next topic |
| Author |
Message |
Spiky
Joined: 29 Apr 2003
|
 Posted: Sun Mar 27, 2011 12:58 am Post subject: USA tax question |
 |
|
Hello!
I am hoping someone can help me out. I am an American citizen. I have been living and teaching in Korea for several years. The first few years I filed each year, but the past few years I have not filed anything. I have spent more than 30 days in the US. I guess this is a two part question. 1--Will I have to pay taxes since I was not abroad for more than 330 days per year. 2--What penalties should I expect ok 3--should I file now or just keep not filing and wait to figure it all out when/if I ever go back?
TIA to anyone who can help out!  |
|
| Back to top |
|
 |
Swampfox10mm
Joined: 24 Mar 2011
|
| Posted: Sun Mar 27, 2011 3:37 am Post subject: |
|
|
| From what I have heard you can back file and be ok. You are ok until caught. Just file. As for the days abroad question, just file. Get it done. Doubt you owe much of anything. |
|
| Back to top |
|
|
isitts
Joined: 25 Dec 2008
Location: Korea
|
| Posted: Sun Mar 27, 2011 3:53 am Post subject: Re: USA tax question |
|
|
| Spiky wrote: |
Hello!
I am hoping someone can help me out. I am an American citizen. I have been living and teaching in Korea for several years. The first few years I filed each year, but the past few years I have not filed anything. I have spent more than 30 days in the US. I guess this is a two part question. 1--Will I have to pay taxes since I was not abroad for more than 330 days per year. 2--What penalties should I expect ok 3--should I file now or just keep not filing and wait to figure it all out when/if I ever go back?
TIA to anyone who can help out! |
You are still exempt from taxes for the years you were here. And as the previous poster said, you can back file. I've twice filed a year late and was fine since I didn't owe taxes.
As for this tax year (for you), that's fine that you were here less than 330 days. You do the 2555 long form (not the EZ...or maybe the EZ can work) and calculate based on the number of days you were here. You may not get a full exemption, but you won't owe much. |
|
| Back to top |
|
|
Spiky
Joined: 29 Apr 2003
|
| Posted: Sun Mar 27, 2011 5:46 am Post subject: Thanks! |
|
|
| Thank you both for your information and experiences. I appreciate it! When you backfiled, did you just include a completed form for each year and send them in all together? |
|
| Back to top |
|
|
isitts
Joined: 25 Dec 2008
Location: Korea
|
| Posted: Sun Mar 27, 2011 6:23 am Post subject: Re: Thanks! |
|
|
| Spiky wrote: |
| Thank you both for your information and experiences. I appreciate it! When you backfiled, did you just include a completed form for each year and send them in all together? |
Um, I didn't back file for consecutive years. I back filed on two occations that were a few years apart.
But, yeah, You'd file a 1040 and 2555 for each year you're filing for.
How many years are you filing for? Probably doesn't matter since you won't owe for the years you were here. If you returned recently, you probably won't owe anything for this year.
I back filed for the year I returned from Taiwan. I was only there a year (March 'o6 to March '07). So I was in the US for a little over 2 months for the 2006 tax year. Those days were subtracted from 330 but I still don't think I owed anything.
And filing for 2007, I counted the 3 months I was in Taiwan as a semi-exemtion. Since it was nowhere near 330 days, I owed for that income earned, I think, but it did reduce the amount filing the 2555.
As long as you don't owe money in your late filings, I think you're fine. |
|
| Back to top |
|
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
