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dogshed
Joined: 28 Apr 2006
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 Posted: Tue Nov 07, 2006 11:07 pm Post subject: EPIK tax exemption |
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The EPIK contract has a tax exemption clause. I can get a two year tax exemption for Korean income taxes if I produce a "Residence Certificate". We think my last 1040 will work as a "Residence Certificate". Hey why not? It's Korea.
The US tax exemption requires my "tax home" to be outside of the US along with some other things.
If I'm exempt from Korean taxes can Korea still be my tax home?
See other thread:
http://www.eslcafe.com/forums/korea/viewtopic.php?t=66667&highlight=
See IRS documents.
See http://www.irs.gov/publications/p54/ch04.html#d0e2230
-Jeff |
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cbclark4
Joined: 20 Aug 2006
Location: Masan
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| Posted: Wed Nov 08, 2006 8:51 am Post subject: |
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I wouldn't take any advice here you should talk to a tax attorney.
cbc |
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dogshed
Joined: 28 Apr 2006
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| Posted: Sat Nov 18, 2006 7:01 pm Post subject: |
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| cbclark4 wrote: |
I wouldn't take any advice here you should talk to a tax attorney.
cbc |
I won't take advice unexamined but I will take opinions, tips and arguements into consideration. -Jeff |
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BigBuds
Joined: 15 Sep 2005
Location: Changwon
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| Posted: Sun Nov 19, 2006 2:39 am Post subject: |
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You have to pay tax in at least one country. If you don't pay taxes in Korea then you have to pay taxes back home and vice-versa. You have to prove to your home country that you've paid taxes overseas and usually register yourself as not being a resident of your home counrty.
That's what I had to do anyway, when the tax department sent a letter to my mother saying that they were going to take me to court in 4 weeks time for not filing for income tax for 3 years. Once I showed them the applicable documents, there was no problem. I do have to do it every 3 years I've been told, to still show that I'm a resident of Korea and haven't returned home. |
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dogshed
Joined: 28 Apr 2006
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| Posted: Sun Nov 19, 2006 2:45 am Post subject: |
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| BigBuds wrote: |
You have to pay tax in at least one country. If you don't pay taxes in Korea then you have to pay taxes back home and vice-versa. You have to prove to your home country that you've paid taxes overseas and usually register yourself as not being a resident of your home counrty.
That's what I had to do anyway, when the tax department sent a letter to my mother saying that they were going to take me to court in 4 weeks time for not filing for income tax for 3 years. Once I showed them the applicable documents, there was no problem. I do have to do it every 3 years I've been told, to still show that I'm a resident of Korea and haven't returned home. |
It sounds like you got in trouble for not filing a return. First, I couldn't find anything on the IRS website that said you have to actually pay taxes in the other country. If I fill out a Korean tax return but don't owe anything to Korea because I have an exemption isn't that enough? -Jeff |
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BigBuds
Joined: 15 Sep 2005
Location: Changwon
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| Posted: Sun Nov 19, 2006 2:56 am Post subject: |
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I didn't have an exemption so I can't answer that question for you. I'm not sure what happens if you have an exception.
Our cases are obviously a little bit different. |
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