| View previous topic :: View next topic |
| Author |
Message |
SojuQueen
Joined: 29 Dec 2010
Location: Land of the cold winters
|
 Posted: Sat Jun 23, 2012 5:01 am Post subject: What forms do I need in order to be tax exempt? |
 |
|
I am starting my third year if work in Korea and I have not been tax exempt for the past two years.
It said on the form that I needed by burth certificate and something else.
Thank you for your help. |
|
| Back to top |
|
 |
ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
|
| Posted: Sat Jun 23, 2012 2:55 pm Post subject: Re: What forms do I need in order to be tax exempt? |
|
|
| SojuQueen wrote: |
I am starting my third year if work in Korea and I have not been tax exempt for the past two years.
It said on the form that I needed by birth certificate and something else.
Thank you for your help. |
If you have already been here for 2 years you don't get the tax holiday - it is only for those working at a public school/university AND only for their 1st two years in Korea (not their first 2 years of employment).
. |
|
| Back to top |
|
|
seala70
Joined: 13 Mar 2011
Location: Incheon
|
| Posted: Sun Jun 24, 2012 2:50 pm Post subject: Re: What forms do I need in order to be tax exempt? |
|
|
| ttompatz wrote: |
| SojuQueen wrote: |
I am starting my third year if work in Korea and I have not been tax exempt for the past two years.
It said on the form that I needed by birth certificate and something else.
Thank you for your help. |
If you have already been here for 2 years you don't get the tax holiday - it is only for those working at a public school/university AND only for their 1st two years in Korea (not their first 2 years of employment).
. |
I spent my first two years at a public school and was exempt from Korean taxes. I'm back home in the US now but may return next year.
My question is, do I get another two years of tax exemption or have I used my "allotment" of tax free years in Korea even if I have left? |
|
| Back to top |
|
|
ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
|
| Posted: Sun Jun 24, 2012 3:30 pm Post subject: Re: What forms do I need in order to be tax exempt? |
|
|
| seala70 wrote: |
| ttompatz wrote: |
| SojuQueen wrote: |
I am starting my third year if work in Korea and I have not been tax exempt for the past two years.
It said on the form that I needed by birth certificate and something else.
Thank you for your help. |
If you have already been here for 2 years you don't get the tax holiday - it is only for those working at a public school/university AND only for their 1st two years in Korea (not their first 2 years of employment).
. |
I spent my first two years at a public school and was exempt from Korean taxes. I'm back home in the US now but may return next year.
My question is, do I get another two years of tax exemption or have I used my "allotment" of tax free years in Korea even if I have left? |
You have used it up - it is attached to your ARC "NUMBER".
If you wanted to try again you need to file a form 8088 with the IRS and they send back a form that your employer uses to claim the exemption.
You may get re-employed and the employer may not realize that you have used it up but you may then get surprised by a tax bill that eats up a payday on you.
. |
|
| Back to top |
|
|
seala70
Joined: 13 Mar 2011
Location: Incheon
|
| Posted: Mon Jun 25, 2012 12:58 pm Post subject: Re: What forms do I need in order to be tax exempt? |
|
|
I spent my first two years at a public school and was exempt from Korean taxes. I'm back home in the US now but may return next year.
My question is, do I get another two years of tax exemption or have I used my "allotment" of tax free years in Korea even if I have left?[/quote]
You have used it up - it is attached to your ARC "NUMBER".
If you wanted to try again you need to file a form 8088 with the IRS and they send back a form that your employer uses to claim the exemption.
You may get re-employed and the employer may not realize that you have used it up but you may then get surprised by a tax bill that eats up a payday on you.
.[/quote]
Thanks for the response. I'm assuming I'll be issued the same ARC number if I return to Korea as I turned my old one in at immigration when I left Korea. |
|
| Back to top |
|
|
ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
|
| Posted: Mon Jun 25, 2012 3:46 pm Post subject: Re: What forms do I need in order to be tax exempt? |
|
|
| seala70 wrote: |
I spent my first two years at a public school and was exempt from Korean taxes. I'm back home in the US now but may return next year.
My question is, do I get another two years of tax exemption or have I used my "allotment" of tax free years in Korea even if I have left? |
You have used it up - it is attached to your ARC "NUMBER".
If you wanted to try again you need to file a form 8088 with the IRS and they send back a form that your employer uses to claim the exemption.
You may get re-employed and the employer may not realize that you have used it up but you may then get surprised by a tax bill that eats up a payday on you.
.[/quote]
Thanks for the response. I'm assuming I'll be issued the same ARC number if I return to Korea as I turned my old one in at immigration when I left Korea.[/quote]
New card, same number.
. |
|
| Back to top |
|
|
seala70
Joined: 13 Mar 2011
Location: Incheon
|
| Posted: Mon Jun 25, 2012 10:00 pm Post subject: |
|
|
| Good information. Thanks. |
|
| Back to top |
|
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
