I recently got a "Do Not Reply" email from the US government saying that my "Social Security Statement" was now available. It's a bit after 2:30 p.m. as I write this, and I just tried to access the statement via the link provided. No dice. Instead, a page came up saying, "This service is not available at this time. Please try again during our regular service hours (Eastern Time)..." Only the government would be stupid enough to slap up a website that doesn't function 24/7. So now, if I want to see my statement, I have to play the government's asinine game and visit their site after 6:15 p.m., my time (the site opens at 4:15 a.m., their time). Christ.
Tuesday, June 04, 2024
7 comments:
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Never mind. I just reread your post and see that the website is supposed to open at 0415.
ReplyDeleteBrian
You are not paying into social security, are you?
ReplyDeleteJohn,
ReplyDeleteApparently, I am. I get taxed on my income despite not residing in the US, after all. I think it's only the US and Eritrea that tax the income of citizens residing abroad. Seems utterly absurd to me (I'm already taxed here in Korea by the ROK government), and an example of the libertarian notion that taxation is theft.
The amount of soc-sec income I'm eligible to receive is a pittance, and when I reach the full retirement age of 67, it'll still be a pittance.
Unless you have US-based income, you are eligible for the "foreign earned income exclusion" (yeah, no hyphens, apparently), as long as your 2023 income was under $120,000. You still have to file, of course, but you shouldn't be paying any taxes and thus you shouldn't be paying into SS, either.
ReplyDeleteFor more info: Foreign earned income exclusion (IRS)
I will occasionally have US-based income, and I pay taxes on that, but I have not payed taxes on my income here ever.
Charles,
ReplyDeleteI'll look into it. Thanks.
No problem. See you in a few hours. The dead cows await.
ReplyDeleteKevin, definitely something you should look into. The US has tax treaties with most developed countries around the world, and you shouldnt be liable for US taxes unless the tax rate in Korea is super low.
ReplyDeleteAnd as @charles says, the FEIE should definitely apply to you. And lastly, since you are not working for a US company, usually SS taxes do not apply. Check to see if there is a totalization agreement in place between the US and ROK on SS, but again, since you not working for a US company (or affiliate of one), SS should not be an issue.
Brian