William US TaxLIAN Accounting Corporation · US Tax Services
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AN ENGLISH-SPEAKING US CPA IN KOREA

Your US taxes,
explained in plain English.

US income tax returns (Form 1040) and FBAR for Americans and green card holders living in Korea. Meet in person or by video and go over everything in English with the US CPA who prepares your return. Korean is available too, for you or your family.

1-minute filing check KakaoTalk channelComing soon Email
Consult in EnglishNo time-zone juggling with a CPA in the US. Ask your questions in English, in Korea.
One CPA, start to finishThe person you consult prepares, reviews and explains your return.
Meet in personReview in person at our office, or by video.
Year-round questionsGot an IRS letter after filing? Ask the same CPA.
Portrait of William (Wonku) Lee, US CPA
US CPA

William (Wonku) Lee

William is a US CPA licensed in Illinois. At LIAN, he prepares US tax returns for American citizens and green card holders living in Korea. He works in English or Korean, whichever you prefer, and cares as much about you understanding your return as about getting the numbers right. From the first conversation to signing, he will walk you through anything that is unclear.

US CPA · Illinois
  • Formerly KPMG and Deloitte
  • University of Waterloo, BMath and Master of Accounting
  • University of Seoul, Master of Tax Studies
  • IRS-registered tax return preparer (PTIN)

Services

We offer the following US tax services.

FORM 1040 · 2555 · 1116

Annual tax return

Your 1040 with Korean wages, business and investment income, using whichever of the foreign earned income exclusion or foreign tax credit works better.

FINCEN 114 · FORM 8938

FBAR & FATCA reporting

We compile maximum balances for your Korean bank, brokerage and insurance accounts and prepare the reports where required.

STREAMLINED PROCEDURES

Catching up on past years

Missed a few years? We review whether the Streamlined procedures fit: three years of returns and six years of FBARs.

FORM 8621 · PFIC

Korean funds & ETFs

Korean mutual funds, ETFs and some insurance products can be PFICs. We identify them and prepare the reporting.

SECOND LOOK · 1040-X

Second look & amendments

We review a return you filed yourself or elsewhere and prepare an amended return if something was missed.

IRS NOTICES

IRS letters

Received mail from the IRS? We explain it plainly and prepare the response and next steps with you.

Key filing dates

Dates falling on a weekend or holiday move to the next business day.
4/15Standard due dateAny tax owed accrues interest from this date.
6/15Automatic extension abroadLiving outside the US gives you two extra months to file.
10/15Extended due dateFinal filing date if you request an extension on Form 4868.
10/15FBAR extended deadlineFBAR is due 4/15 and extends automatically to 10/15.

US tax guides

Coming soon
FBARDo Korean savings and insurance accounts count for FBAR?
PFICWhat Americans holding Korean funds should know
STREAMLINEDBehind on filing: where to start
FTC vs FEIEForeign tax credit or exclusion: which is better?
SELF-CHECK

Do I need to file?

Answer four questions and we will list what to look into.

Your US tax status
Did you have income last year (wages, business, interest, dividends, rent)?
Did your foreign accounts, together, exceed $10,000 at any point in the year?
Are there recent years when you did not file a US return?

How it works

  1. 01ConsultationAn initial consultation to understand the scope of your filing, followed by an estimated quote.
  2. 02DocumentsAfter engagement, upload documents through a secure link.
  3. 03ReviewWe walk through the finished return together, in person or by video.
  4. 04SignatureWe send marked signature pages, or you can sign at your review meeting.
  5. 05FilingWe submit your return to the IRS and send you proof of filing and a copy for your records.

Fees

Fees depend on factors such as:

  • Number of tax years
  • Number of accounts
  • Stock trades
  • PFIC holdings
  • Joint filing

After the consultation we give you an estimated quote for your case. If documents are added or the scope changes, we will let you know in advance.

What goes into your return

You can book a consultation without any documents. If you have any of the items below, sending them ahead helps us give you a more accurate estimate.

  • Last year’s US return (if any)
  • Korean year-end withholding statement or income tax return
  • List of bank, brokerage and insurance accounts with maximum balances
  • Holdings and trade history for stocks, funds, ETFs and crypto
  • Ownership of private companies outside the US, including in Korea
  • Records of gifts or inheritances received from or given abroad
  • US forms such as W-2 or 1099
  • Any letters from the IRS

Frequently asked questions

I live in Korea. Do I still need to file?

US citizens and green card holders must file once their income passes the filing threshold, wherever they live. If foreign accounts together exceed the reporting threshold, an FBAR is required as well.

Do I pay tax in both countries?

Korean taxes can be credited or excluded on your US return, so many people owe little or no additional US tax. It depends on your mix of income.

How do I sign?

We send marked signature pages with a return envelope, or collect signatures at your review meeting. Joint returns need both spouses to sign.

I have not filed for several years. What now?

If the failure was not willful, the Streamlined procedures may apply; we start by checking whether you qualify. Outcomes depend on your facts.

CONTACT

Get in touch

Tell us your status (citizen or green card holder), the tax years involved, and your situation (annual filing / unfiled years / FBAR only), and we will get back to you promptly.

KakaoTalk channelComing soon
Emailwilliam@liancg.com
Phonexxx-xxxx-xxxx