Korean Job Discussion Forums

[nycgrl99]

Hey all. It's almost tax season and I'm a little stressed out. Since I've been a full time student all these years, my parents have always done this for me.

I've searched the threads here and have had a hard time finding out how a person in my situation pays taxes for the 2008 fiscal year.

I've been a full time student until June. Started my contract in South Korea at the end of August.

I plan to be here until next August.

So my questions are:

1) Since I have no W-2s, how do I file a 1040? Just list what I've made so far (I guess it's 4 months worth of income - Sept, Oct, Nov, Dec 2008) under "Other Income"? Or should I attach my pay stubs as a substitute for a W2?

2) Do I meet the requirements for a 2555? I've only been here about 6 months so far (4 months of the 2008 calendar year), but I *plan* to be here for the full 330 days (as required by the physical presence test).

Thank you for your help, I hope my questions can help the other recently-graduated English teachers on this forum!

[Majeh]

You need to go to the IRS website (www.irs.gov) to download the instructions and forms for IRS 2555/2555EZ.

Here's the 2008 instructions: http://www.irs.gov/pub/irs-pdf/i2555.pdf

Here's the 2008 Form 2555: http://www.irs.gov/pub/irs-pdf/f2555.pdf

Hope this helps!

[postfundie]

there's a Korean version of the W-2 form. Also you could just use HR Block in Seoul. They 'll charge you around 100 bucks for one year.

[Gillian57]

File for an extension. That will give you the time needed to meet the requirements for having worked overseas, and you won't have to pay taxes. Tha's what I did my first year here.

[T-J]

You automatically get a two month extension without applying for it, just by living overseas. (interest and penalties accrue from April 15th regardless) First time filers that have not reached the 330 day physical presence test criteria my file a special first time extension until meeting that criteria. Use form 2350.


Hope that helps. Now I have a question. Who can recommend a good E file service?

[Missihippi]