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vchampea
Joined: 02 Sep 2011
Location: USA
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 Posted: Tue Nov 29, 2011 3:02 pm Post subject: tax exemption forms - necessary? |
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| I got an email from my recruiter about tax exemption. There's some forms I'm supposed to fill out so my income in Korea won't get taxed by the US govt. Is this really necessary? Can't just not report any income? |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Tue Nov 29, 2011 3:40 pm Post subject: Re: tax exemption forms - necessary? |
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| vchampea wrote: |
| I got an email from my recruiter about tax exemption. There's some forms I'm supposed to fill out so my income in Korea won't get taxed by the US govt. Is this really necessary? Can't just not report any income? |
If you are going to a public school or a publicly funded university the forms are so you can enjoy a 2 year Korean tax exemption on your Korean income (you don't pay Korean income tax).
US citizens already enjoy a $80,000 exemption on foreign earned income (your first 80k per year is tax exempt from taxation by the IRS).
If you want to pay Korean income tax then skip the forms.
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vchampea
Joined: 02 Sep 2011
Location: USA
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| Posted: Wed Nov 30, 2011 9:45 am Post subject: |
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| Ok. Well, my recruiter is telling me I need to contact my local tax officer and the IRS to check. She also said something about a residency certificate, which I should get from the US govt. before going to Korea. |
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