All posts tagged Sprintax

  • Massachusetts state tax module for 2016 tax preparation is live!

    We are happy to announce that the Massachusetts state tax module is live!

    MA modules for non-resident, part-year residents and full-year residents are now available for use.

    In addition to the MA module, we have 9 more state modules available. You can prepare and download your 2016 tax returns for New York, California, Rhode Island, North Carolina, Michigan, Ohio, Virginia, Indiana and Missouri.

    International students and scholars and non-resident professionals can prepare their tax returns by entering their existing account or creating a new one for new users of Sprintax.

    You may or may not be obliged to file a state tax return for 2016 – Sprintax will help you to identify your state tax filing obligations and prepare your state tax return if required.

    The tax deadline for most states is April 18, so don’t delay!

    Sprintax offers 24 hour support to students via our Live Chat facility to answer any questions you may have here.

    Have a question? Ask our virtual assistant Stacy here.

  • I am an international student, why don’t I get a full refund of taxes paid?

    Many international students on F-1, J-1, M-1 and Q engage in practical training and earn income through one of the USCIS (United States Citizenship and Immigration Services) approved programs or participate in on-campus and off-campus employment during or post-study.

    Do I need to pay tax?

    It is sometimes thought that foreign students who receive any type of income and funds from their OPT or from on-campus or off-campus activity, are not liable to US taxes however this is untrue. For many international students, the US tax system may seem complex and as a result they are not aware of their filing and taxation obligations.

    According to US tax law and regulations (Publication 519), “non-resident aliens usually are subject to US income tax only on US source income”, respectively, foreign students under F1, M1, J1 and Q visas are liable to pay both federal and state income taxes on their US sourced income, which may include wages, tips, scholarship and fellowship grants, dividends, and so on.

    Non-resident aliens file Form 1040NR-EZ or 1040-NR “US Non-Resident Alien Income Tax Return” to assess and file federal income and taxes. Most non-resident aliens do not qualify for the standard deduction.

    Tax Time post-it and Red Alarm Clock. 3D Rendering

    Do I need to file a tax return?

    If your gross earned income from sources within the US does not exceed the personal exemption allowance ($4,100 in 2016), a federal income tax return is not due and any federal tax withheld will be refunded in full.

    Scholarships and Fellowship Grants are also taxable income when paid to non-resident aliens. IRS Notice 87-31 exempts scholarships and fellowships from tax in the US when paid to US citizens and residents, yet the US scholarship and fellowship grants paid directly to a foreign student are generally taxable and subject to reporting.

     

    Can I deduct expenses?

    The general rule is that you cannot deduct personal or living expenses, unless specifically allowed by the US tax code. Some foreign students are eligible for a direct write-off of that part of the scholarship or grant that was used to cover qualified educational expenses. The deduction applies to all non-resident aliens who are candidates for a degree or at least half-time students.

    The qualified educational expenses also include all out-of-pocket expenses paid for tuition, academic fees, books, supplies and equipment required by a college or university.

     

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    What is a tax treaty?

    Another way for international students to decrease federal income tax is to avail of a tax treaty which will allow them to fully or partially exempt their US sourced income from federal and/or some state income taxes.

    The US tax treaty network covers more than 65 countries and almost all treaties have specific provisions that apply to students, trainees and apprentices.

    In conclusion, foreign students are liable to pay US income taxes on the income they earn in US, including wages, tips, scholarship and fellowship grants, dividends, and must use non-resident tax return forms 1040NR-EZ or 1040-NR to calculate the amount of federal income tax they must pay.

     

    Am I due a tax refund?

    If the amount of tax deducted from your payments during the tax year 2016 is more than the tax shown on your 1040NR-EZ or 1040-NR, then you will be due a refund, otherwise you will be required to pay your US tax liabilities.

    It is important to note that each individual state has its own tax system and tax regulations imposing different residency and filing requirements under which foreign students may have to a file state tax return and pay state income tax even when no federal return is due.

     Claiming-a-tax-refund-–-explained-step-by-step

    Preparing your tax return online

    Sprintax.com offers you non-resident tax form preparation online through a simple step-by-step process. The software analyzes personal, income and tax information and produces non­-resident tax forms such as 1040NR, 1040NR-EZ, more than 10 state tax returns, including CA, NY, MI, IL, PA, MA, NC, NJ, VA, GA and many others, including the 8843 form and W-7 ITIN application where applicable.

    Through the user-friendly, step-by-step application, the software collects data that considers your allowed expenses, tax treaty benefits, deductions and exemptions helping you to prepare a compliant tax return and reduce your income tax liability as much as is legally possible.

    Sprintax offers 24 hour support to students via our Live Chat facility to answer any questions you may have here.

    Have a question? Ask our virtual assistant Stacy here.

     

  • NY, RI, NC, MI, OH state tax modules for 2016 tax preparation are out!

    Following the release of 4 state tax modules in January (California, Virginia, Indiana and Missouri), we are happy to announce that five more modules are available!

    You can now prepare and download your 2016 tax returns for New York, Rhode Island, North Carolina, Michigan and Ohio.

    International students and scholars and non-resident professionals can prepare their tax returns by entering their existing account or creating a new one for new users of Sprintax.

    You may or may not be obliged to file a state tax return for 2016 – Sprintax will help you to identify your state tax filing obligations and prepare your state tax return if required.

    The tax deadline for most states is April 18, so don’t delay!

    In addition to the 9 available states, we expect more state tax modules to be released, so please stay tuned:

    Pennsylvania, New Jersey, Georgia, Oregon, Kansas, Massachusetts, Colorado, Illinois, Maryland

    Sprintax offers 24 hour support to students via our Live Chat facility to answer any questions you may have here.

    Have a question? Ask our virtual assistant Stacy here.

  • First four state tax modules for 2016 tax preparation are out!

    We are very pleased to announce that the first four states tax modules for 2016 tax preparation are out now.

    You can prepare and download your 2016 tax returns for California, Virginia, Indiana and Missouri by entering your existing account or creating a new one for new users of Sprintax.

    You may or may not be obliged to file a state tax return for 2016 as well as a federal tax return. However, Sprintax will help you to identify your state tax filing obligations and prepare your state tax return if required.

    Most state tax authorities adopt the federal tax season deadlines, so you may need to submit your state tax return(s) by the April 18 deadline, the same as your federal tax return.

    By the end of January, we expect the state tax modules for most of the following states to be released, so please stay tuned:

    Massachusetts, Michigan, Georgia, Illinois, New York, New Jersey, North Carolina, Ohio, Oregon, Pennsylvania, Rhode Island, Colorado, Kansas, etc.

     Sprintax offers 24 hour support to students via our Live Chat facility to answer any questions you may have here.

    Have a question? Ask our virtual assistant Stacy  here.

  • 2016 Tax Season A Fantastic Success!

    With the 2017 tax filing season open, it’s time to take a look back at the 2016 season and what we achieved.

    Successful season for Sprintax

    The 2016 tax season saw a huge increase in the number of students and scholars using Sprintax to prepare their Federal and State tax returns.

    With a similar increase in contracted colleges and universities for 2017, we are expecting this to be another record year.

    In 2016 the average Federal refund was over $900, and while everyone’s circumstances are different, the vast majority of those who prepared a Federal return received a refund – so it does pay to file your taxes!

    Communication with clients and partners

    At Sprintax we strive to provide our clients the highest quality service and their feedback is vital to achieve this. In 2016, we launched our Customer Satisfaction Survey for the 2nd year and were delighted with the positive results.

    In 2016, the Sprintax team attended the NAFSA conference in Denver, as well as the regional NAFSA conferences, where we had the pleasure of meeting many of our colleagues and partners.

    Our goals for the future

    We’re committed to making tax preparation as stress-free as possible. Our team are on hand to answer any questions you may have when preparing your returns. Simply ask a question here.

    The filing deadline is Tuesday April 18, but the sooner you file the sooner you get your refund, so don’t delay!

    Click here to sign up!

  • The 2016 Tax Year is Live!

    We’re excited to announce that the 2017 tax filing season is open and Sprintax is up and running!

    International students and scholars, and non-resident professionals – you can now use Sprintax to prepare your non-resident tax returns for the 2016 tax year. Sprintax can help you prepare your Federal, State, and FICA tax returns to ensure you stay fully compliant.

    Official start of 2017 filing season

    The 2017 filing season starts on January 23 2017. Sprintax gives you the opportunity to prepare your tax return before that date and have your 2016 tax return ready to mail on or after January 23, at the start of the 2017 Filing season.

    April 18 Filing Deadline 

    The filing deadline to submit 2016 tax returns is Tuesday, April 18, 2017, rather than the traditional April 15 date. In 2017, April 15 falls on a Saturday, and this would usually move the filing deadline to the following Monday — April 17.

    However, Emancipation Day — a legal holiday in the District of Columbia — will be observed on that Monday, which pushes the nation’s filing deadline to Tuesday, April 18, 2017.

    What does the April 18 deadline mean to me?

    Non-residents can apply for their tax refunds even after the April 18 deadline, but your return has to be filed no more than 3 years after the original deadline in order for the IRS to issue you a refund.

    You should not worry about penalties and fines if you have no tax liability as the IRS may not penalize you if you do not file a return on time.

    The deadline for filing your Form 8843 is the same as the deadline for filing your tax return (April 18).

    If you owe additional tax for the year, you must file your tax return and pay those taxes by April 18 to avoid late filing and payment interest and penalties.

    How Sprintax works

    To get started, simply create an account here. Sprintax will give you a step-by-step guide to the whole process – all you need to do is answer a few simple questions.

    Once you’re done, Sprintax will generate your tax return/s and you can simply send it to the tax office – it’s as easy as that!

    Once complete, we’ll store your details for any future tax returns. You can also prepare tax returns for previous years using the same account.

    Sprintax offers 24 hour support to students via our Live Chat facility to answer any questions you may have here.

    Don’t miss out on your tax refund and stay compliant by using Sprintax!

    Have a question? Ask our virtual assistant Stacy here.

  • Sprintax at NAFSA 2016 Regional Conferences

    Following the national conference earlier in the year, the 11 NAFSA regions held their conferences in late October and early November. These events are excellent opportunities for those involved in international education and exchange to network with experts and business partners and stay current with the latest trends.

    Sprintax were delighted to attend again and meet many of our partners and colleagues. We were represented by Jennifer Gallagher in Alaska, Wisconsin, California and Indiana and Enda Kelleher in Rhode Island, New York, New Mexico, Louisiana and Pennsylvania.

    Enda and Jennifer had statistics from the 57,000 students and scholars who prepared their taxes with us and were glad to offer advice and information to anyone who stopped by their booths.

    Sprintax Competition

    This year, we continued our tradition of giving away prizes at NAFSA. Enda and Jennifer ran a draw for a Bluetooth speaker for all of those who stopped by to chat with them.

    The lucky winner from the conference in New Orleans was Joy Werka from University of West Alabama, while Kelly Hughes from Towson University got the prize at NAFSA Philadelphia. Congratulations Joy and Kelly!

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    Enda from Sprintax team and Joy from University of West Alabama

    We were thrilled to be part of the NAFSA regional conferences and we’d like to thank all participants for the wonderful experience! NAFSA is helping to shape the future of education and we look forward to attending more events.

     

  • Sprintax at NAFSA 2016 Annual Conference & Expo

    This year the team at Sprintax continued our tradition and attended the annual NAFSA (Association of International Educators) Conference.

    This year the annual conference & expo took place in Denver and again confirmed its status as the largest international educational conference in the world, gathering attendees from over 100 countries.
    More than 400 institutions and 10,000 international educational professionals from across the globe joined the conference for the chance to exchange ideas, network, and explore the trends that are shaping the future of education.

    We had an incredible opportunity to meet many of our partners and discuss new strategies on working together in the 2016 tax season.

    We also paved our way to exciting new collaborations with leading US institutions and schools. The whole team are looking forward to working together to help even more international students and scholars with their US tax affairs.

    Sprintax Competition

    We love giving away prizes so we ran an exclusive iPad competition for all of those who stopped by our booth for a chat with Enda and Jennifer.

    The lucky winner was Kathy Gallentine – International Student Advisor at Central Washington University. Congratulations Kathy!

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    Jennifer from Sprintax team and Kathy from Central Washington University

    We’d like to thank all NAFSA participants for the great experience at the NAFSA 2016 Annual Conference and Expo!

    Looking forward to seeing you at the NAFSA Regionals!

  • 2015 is Best Sprintax Season to Date

    The 2015 US tax season is long over and it is time to take stock of the season and look at the big picture – through our eyes and through the eyes of our customers and partners.

    The Season in Numbers

    We are delighted to announce that the 2015 tax season was our best season to date. We guided twice the number of international students and scholars through the complicated tax filing process compared to last year.

    36,348 non-residents trusted Sprintax with their Federal tax returns and 30,450 filed their state tax returns using our software.

    Being the only non-resident tax prep tool covering both Federal and State tax returns, we helped our customers claim $30, 5000,000 in Federal tax refunds and more than $8,000,000 in State tax refunds.

    Our Goals

    We achieved the goals we set last year; to deliver excellent customer experience by reaching the highest standards and create an outstanding customer journey.

    With our help, thousands of international students and scholars from 193 countries filed their US taxes hassle-free with our step-by-step software and 24/7 Live Tax Help.

    Our team was fully dedicated to improving the Sprintax software and making it user-friendly. We prepared an extensive FAQ section which proved to be incredibly useful to our customers and a new video demo where you can find out how Sprintax works.

    Our Partnerships

    Over 475 US schools have partnered with us to help their students and scholars with their tax affairs.

    We’re excited to say that in the 2015 tax season we not only strengthened the relationships with our partners but also established many new partnerships with hundreds of US schools and institutions from all across the US.

    We truly believe that those partnerships will thrive in the future and are looking forward to many new ones.

    A Big Thank you

    To all members of the Sprintax team for their dedication and hard work. We owe our huge success to all of those who put their hearts into Sprintax.

    The excellent results we achieved in the 2015 season only motivate us to work even harder and implement new innovations to improve our services.

    A new strategy is on the horizon so stay tuned for big Sprintax news in the 2016 tax season.