Wednesday, March 25, 2009

Tax Time Follow Up

Quick follow up here to my tax time post. I am still figuring it all out but thankfully was sent on the right track.

I am going to start with a look at "IRS Publication 54". Which is actually a guide to paying your taxes when getting foreign income.

So for the rest of you out there I would say take a look and get it started, unless you already have.

3 comments:

  1. Since you are in Korea, your foreign income is tax-free for the first two years, up to [mumble] thousand dollars--like 60 or so.

    I forget the name of the form you have to file, but your school should have had you do this long ago. They need a Certificate of Residency in order to do your Korean paperwork properly.

    Not sure, but perhaps our friends at Seoul Global Center can help you out: http://global.seoul.go.kr/

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  2. Thanks for the info. I'm still trying to sort through all this but will probably try to finish this weekend.

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  3. Joy, one of those tax programs (Turbo Tax, H&R Black) online can handle your time abroad. I used them when I lived in Korea with no problem. (Well...no problem beyond the usual "what the hell does this mean in non-tax English" questions.)

    And you can use them even with the automatic extension and even if you file really late. The programs make it not tooooo painful, and you can always save your work to finish it later.

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