Explainer: What each Sprintax Product will do for you
It has been nearly one year since Sprintax underwent brand updates to ensure we were delivering the very best possible product for our customers.
Our goal is to assist employers and nonresidents alike in the US with preparing their taxes, ensuring they are 100% tax compliant.
Each brand offers a simple and easy-to-use product that couples peace of mind with tax compliance – often a rarity in the US!
So, what is each Sprintax product, and what will it do for you?
Find out below!
Who can use Sprintax?
Many international students use TurboTax to prepare their tax returns. One problem… TurboTax is for RESIDENTS ONLY.
Therefore, if you file with Turbotax, you’ll be filing incorrectly as a resident. The result? Potential fines and penalties coming your way!
Not to worry! Sprintax is the nonresident partner for Turbo Tax.
If you are a nonresident in the US and want to prepare your taxes, or are hiring international students and nonresidents, you’re in the right place!
Which Sprintax Product should I use?
Put simply – that depends!
There are four main Sprintax products – Calculus, Returns, Forms and Dividends.
Sprintax Returns and Sprintax Forms are closely related to the personal side of tax – meaning that if you are a nonresident in the US looking to prepare your tax forms, these are the products that will suit you!
On the other hand, Sprintax Calculus is related to the business aspect of tax – i.e. professionals who are seeking to ensure their nonresident worker is correctly taxed should use this product.
Find out more on each individual product below!
Sprintax Returns
Sprintax Returns is the home of nonresident federal tax e-filing and state tax return preparation.
By using Sprintax Returns, individuals who are filing their taxes will ensure they are fully tax compliant with Internal Revenue Service (IRS) rules.
Not only this, but nonresidents will receive their MAXIMUM legal US tax refund.
There are four simple steps to the Sprintax Returns product:
- Set up your account by answering some personal information
- Insert information relating to your stay in the US
- We will apply every tax credit and tax treaty that is applicable for you to claim
- We will prepare your tax return and tax forms
Sprintax Forms
When a nonresident in the US starts a new job, they will be asked to complete some documents. Each of these documents determines how much you will be taxed.
These documents include: Form W-8, 8233 and W-8BEN.
The problem? A lot of nonresidents pay more tax than they need to by incorrectly filing these forms.
That’s where Sprintax Forms can help – our expert system will automatically prepare all the pre-employment tax forms you need, ensuring you are taxed at the correct rate.
If you are available for a tax treaty benefit or are exempt from paying FICA taxes, we will also ensure you are doing so.
To get started, all you need to do is:
- Enter your name and email address to set up an account quickly and easily
- Complete a simple online questionnaire
- We’ll determine what reliefs you are applicable for before sending you your US tax forms to give to your employer
Sprintax Calculus
Many professionals who hire international students and nonresidents in the US struggle to manage the responsibility of the tax side of things.
That’s why Sprintax Calculus is the perfect product for payroll offices who are hiring nonresident workers and want to make sure they are fully tax compliant.
Our user-friendly dashboard creates profiles on the Sprintax site for each nonresident – a single platform where each person’s tax can be managed individually.
When Sprintax Calculus is set up, the user is:
- Added to the system, where they complete an easy online questionnaire with a few short questions
- We’ll prepare all the necessary forms
- The user will sign the forms
- We will prepare tax withholding calculation
Find out more here.
Sprintax Dividends
Sprintax Dividends was specifically created to help both individuals and organizations to file a tax return and claim their Dividend Withholding Tax back.
So, what is Dividend Withholding Tax? This is a form of taxation typically withheld from dividend payments made to overseas investments.
A country will usually withhold this tax as it is not possible to collect the amount due once the dividend is remitted outside the country.
However, there is sometimes an opportunity to claim this back through a refund.
