Apparently a lot of people living in South Korea or other countries fail to file their taxes. The IRS is not only onto this problem, they seem to be offering avenues to get the problem cleared up without any penalty.
In a nutshell, if you don't owe any money thanks to the Foreign Earned Income Exclusion or foreign tax credits (two ways to avoid paying US Federal taxes if you live full-time in Korea), then the penalty is zero, but you need to get it squared away.
A great deal of information can be found at this website.
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Pearls of witticism from 'Bo the Blogger: Kushibo's Korea blog... Kushibo-e Kibun... Now with Less kimchi, more nunchi. Random thoughts and commentary (and indiscernibly opaque humor) about selected social, political, economic, and health-related issues of the day affecting "foreans," Koreans, Korea and East Asia, along with the US, especially Hawaii, Orange County and the rest of California, plus anything else that is deemed worthy of discussion. Forza Corea!
Showing posts with label IRS. Show all posts
Showing posts with label IRS. Show all posts
Thursday, February 9, 2012
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