Individual Income Tax - U.S. Tax Return Form 1040 - US TAX SERVICE

Report of income tax

If you are a U.S. citizen or permanent resident, you need to file a tax return of your worldwide income
every year to the federal and state government regardless of where you reside.
If you have stayed in the U.S. for more than 183 days in the last three years,
you will be considered a U.S. resident under the tax law and you will need to file a tax return.
The income tax is estimated by applying the sum of all income including gross salary, bank interest, investment income, and various deductions and credits.


Individual Income Tax Return

U.S. tax is levied on federal, state, county, city, but individual tax return is mainly federal and state tax return. Federal and state tax return use different forms
depending on whether you are Resident or Nonresident, and U.S. citizens or permanent residents residing in Korea will use Form 1040 to file a tax return.
The 1040 Individual Income Tax Return consists of two pages, containing basic information of the taxpayer, dependents, and income-related information on the first page and lists of deductions to which final determined tax is calculated on the second page. You will either pay your taxes or get a refund based on this amount.

Frequently asked questions

1I am currently studying abroad in the U.S. Do I have to file a tax return if I pass the substantial test?
The substantial test itself may be classified as an exception for filing a tax return under the conditions for Close Connection to a Foreign Country. Even if you passed the substantial test, you are considered as a nonresident alien and there is no obligation to file a tax return.
  • If you have resided less than 183 days for the tax year
  • If you are filing a tax return on your own country
  • If you have a closer connection to your country than the U.S.
If you meet the conditions above, you do not have the obligation to file a tax return, but you must complete the IRS Form 8840.

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