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blueskies
Joined: 15 Jun 2006
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 Posted: Mon Sep 17, 2007 3:02 am Post subject: Residency Certification for Americans |
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| Are we required to apply for this every year? |
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bassexpander
Joined: 13 Sep 2007
Location: Someplace you'd rather be.
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| Posted: Mon Sep 17, 2007 3:43 am Post subject: |
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Are you talking about your Alien Residency Card? (ARC)
If so, then you need to update it (they sign the back) if you stay with the same school. Move to another school, and you'll likely have to do a Visa-run and will get a new card. |
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dogshed
Joined: 28 Apr 2006
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| Posted: Mon Sep 17, 2007 3:43 am Post subject: Re: Residency Certification for Americans |
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| blueskies wrote: |
| Are we required to apply for this every year? |
You can only get the tax break for two years. The Korean system never required me to get it at all. I think if they do require it for you it will probably be good for both years.
Also, any taxes paid that are not subject to a refund can count for a credit using IRS form http://www.irs.gov/taxtopics/tc856.html
If I'm reading the credit information correctly then Koreans are idiots. They should have US citizens pay taxes to Korea and then let us get the money back from the US government. |
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dogshed
Joined: 28 Apr 2006
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| Posted: Mon Sep 17, 2007 3:46 am Post subject: Re: Residency Certification for Americans |
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| dogshed wrote: |
| blueskies wrote: |
| Are we required to apply for this every year? |
You can only get the tax break for two years. The Korean system never required me to get it at all. I think if they do require it for you it will probably be good for both years.
Also, any taxes paid that are not subject to a refund can count for a credit using IRS form http://www.irs.gov/taxtopics/tc856.html
If I'm reading the credit information correctly then Koreans are idiots. They should have US citizens pay taxes to Korea and then let us get the money back from the US government. |
Ooops I am reading it wrong.
"You may not take either a credit or a deduction for taxes paid or accrued on income you exclude under the foreign earned income exclusion or the foreign housing exclusion. There is no double taxation in this situation because the income is not subject to United States tax." |
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blueskies
Joined: 15 Jun 2006
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| Posted: Mon Sep 17, 2007 4:50 am Post subject: |
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| Thanks! |
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