All posts tagged Tax return filing

  • How to get the forms you will need to file your taxes as a nonresident

    forms you need to file nonresident tax return

    Tax season can be a difficult time for nonresidents in the US. After all, you are filing taxes in an unfamiliar country!

    However, it’s not all bad – Sprintax is here to help!

    And while filing your taxes may seem like a big job, you can make the job easier by breaking it down into smaller tasks.

    Step one is to gather all of the income forms and documents you will need in order to file your return. Continue reading “How to get the forms you will need to file your taxes as a nonresident” »

  • US tax season survival guide for international students on F-1 visas

    F1 International student tax filing guide

    A handy tax guide for international students and scholars in the US on an F-1 visa

    While tax filing might not be the most exciting aspect of international student life in the US.

    After all, tax returns for international students probably weren’t high on your list of priorities when moving to the US!

    However, the importance of completing these forms correctly cannot be underestimated – the way you handle your international student tax affairs will have a major impact on future Green Card and visa applications.

    With this in mind, we’ve created this handy tax guide for international students and scholars in the US on an F-1 visa.

    We’ve covered everything you need to know about tax returns, refunds, and how to stay in the taxman’s good books! So, let’s get started!

     

    Continue reading “US tax season survival guide for international students on F-1 visas” »

  • Top 8 tax myths international students in US believe in – DEBUNKED!

    tax myths international students believe in

    George Orwell once said: “Myths that are believed in tend to become true”.

    Well, there might be a grain of truth in what he said but not when it comes to taxes and the U.S. taxation laws.

    As an international student you are not supposed to know the US tax procedures concerning tax return filing by heart but at least you should be aware of the Top 8 tax myths that most international students tend to believe in.

    So do not walk around believing in “old wives’ tax tales and check the most common tax myths DEBUNKED here!

     

    Continue reading “Top 8 tax myths international students in US believe in – DEBUNKED!” »

  • The dangers of not filing a tax return

    Not filing a tax reurn

    If you have worked or studied in the USA, did you know that you are obliged to file taxes?

    Many nonresidents are unaware of this fact due to a combination of factors, such as busy lifestyle or they have left the country.

    However, whatever the case may be, not filing your taxes has very serious consequences.

    If you are a nonresident and still live in the US, continuing to avoid your responsibility can result in automatic wage seizure by the courts, asset seizures like your car and may even lead to arrest and jail time for tax evasion.

    What happens if I don’t file?

    If you do not pay the taxes you owe by the tax deadline (15 April every year, except 2020 and 2021 which were 17 May and 15 July respectively) you could be hit with a variety of punishments.

    Here are a few different dangers of not filing your tax return:

    You could miss out on your tax refund!

    If you are entitled to a tax refund, you won’t be punished for filing late by the IRS.

    If you wait longer than three years from the date your refund is published, however, you will lose out on your chance to claim the refund as it will automatically be handed over to the US government.

    You could be hit with fines and penalties

    If you have unpaid taxes, you will owe the IRS interest in addition to any penalties.

    You should do your best to file your tax return before the deadline to avoid facing penalties and fines!

    The penalty for filing late is normally 5% of the unpaid taxes for each month or part month that a tax return is late. That penalty starts accruing the day after the tax filing due date and will not exceed 25% of your unpaid taxes.

    If you file your tax return more than 60 days after the due date or extended due date, the minimum penalty is strong – $135 or 100% of the unpaid tax, whichever is less.

    If you do not pay your taxes by the tax deadline, you will normally face a failure-to-pay penalty of 0.5% of your unpaid taxes.

    Residency status for tax purposes

    Can I file if I have left the US?

    Yes!

    You can file your US tax return with Sprintax from anywhere in the world!

    Sprintax is the only online Federal and State self-prep tax software for nonresidents in the US!

    Our system will assist you in preparing fully compliant Federal and State tax returns and secure your maximum legal tax refund.

    The average federal refund in the US is $1,126!

    With Sprintax you can:

    • Save time and stress!
    • Determine your residency status
    • Prepare a fully compliant US tax return
    • E-file your Federal tax return
    • Maximize your State tax refund
    • Avail of our 24/7 Vita Qualified Live Chat facility

    Complete your nonresident tax return today!

  • Introducing your one stop shop for determining tax treaty entitlements!

    Sprintax Calculus (TDS) new tax treaty engine

    Sprintax Calculus (formerly Sprintax TDS) launch new Tax Treaty Engine

    Every year, the proper documentation and withholding of tax from nonresidents becomes a bigger issue for organizations around in the US.

    Exactly how a nonresident should be taxed depends on a number of unique circumstances including where they’re from, the type of income they are earning and the amount of time they have spent in the US.

    Staying on top of these requirements has become a significant challenge for payroll office staff in a plethora of different industries.

    The correct determination and application of tax treaty benefits to employee paychecks is particularly challenging.

    After all, the US has signed tax treaty agreements with 66 different countries. Continue reading “Introducing your one stop shop for determining tax treaty entitlements!” »

  • What income is taxable for nonresident aliens in the US?

    Taxable income of nonresident aliens

    Are you a nonresident living in the US? We know it can be confusing to understand the tax system in your home country, let alone in a different one, so we are here to help explain what income is taxable for nonresidents in the US.

    As a foreign national you can be subject to one of two different systems of taxation in the US, depending on whether you are classified as a nonresident or resident alien in the US.

    If you are a nonresident alien, you are subject to US income tax only on your US source income and just like residents, you must report your income on US income tax returns.

    In this guide, we are going to take a closer look at the various different types of income which are taxable in the US and outline our tips on managing your tax requirements.
    Continue reading “What income is taxable for nonresident aliens in the US?” »

  • How to track the processing of your North Carolina state tax return?

    Track North Carolina state tax return

    North Carolina is one of the 43 states in America that taxes its residents’ individual income.

    You must file a state tax return if you are a nonresident alien and your income from North Carolina sources is greater than $0.

    If you have already filed your North Carolina state tax return ahead of the 17 May 2021 tax filing deadline, you may want to follow the progress of your return and the processing of your tax refund.

    In this guide, we’re going to show you exactly how you can track your return and let you know what to do if you have not yet filed your taxes.
    Continue reading “How to track the processing of your North Carolina state tax return?” »

  • I filed as a resident in 2018. I have since left the US. I received the CARES payment. What should I do?

    Nonresident received IRS stimulus check

    In response to the COVID-19 outbreak, the US government rolled out the emergency CARES (Coronavirus Aid, Relief and Economic Security) Act.

    Essentially, it is a stimulus package that provides workers (earning less than $75,000 per year) with a one-time payment of $1,200.

    The stimulus payment can only be claimed by US citizens, permanent residents, and residents for tax purposes (individuals who can pass the Substantial Presence Test) who have a valid Social Security Number (SSN), who have filed their 2018 tax return (in 2019), or their 2019 return (in 2020) and who will be considered a qualifying resident alien for the 2020 tax year.

    For more details on how US residency for tax purposes is determined, check out this blog post.
    Continue reading “I filed as a resident in 2018. I have since left the US. I received the CARES payment. What should I do?” »

  • 5 Top Tax Tips for Last-Minute Filers

    student with laptop

    (Updated for 2021)

    International students must file a tax return as a condition of their visa. You may be subject to penalties and interest if you don’t do it.

    However, many will inevitably wait until the last minute to file their US tax returns.

    If you’ve procrastinated and haven’t done your taxes yet, you are not alone!

    But don’t worry! We are here to help with our 5 top tax tips for last-minute filers.
    Continue reading “5 Top Tax Tips for Last-Minute Filers” »

  • US Tax deadline extended to 15 July 2020

    Due to the Coronavirus (COVID-19) outbreak, the IRS have announced a 90 day extension to the deadline to file and pay your federal taxes.
    Continue reading “US Tax deadline extended to 15 July 2020” »

  • How to File Your Nonresident Tax Return from Outside the US

    Need to file a US nonresident tax return from outside America?

    Don’t worry. You’re not alone! Countless nonresidents face this very predicament every year.

    Filing from outside the US can pose its own unique set of challenges. But, with some planning, organization and a little help from your friends at Sprintax, filing your documents can be easier than you think!

    In this handy guide, we’ve got 5 top tips to follow if you’re filing your nonresident tax documents from outside the US.
    Continue reading “How to File Your Nonresident Tax Return from Outside the US” »

  • Form 8843 – what is it and how do I file it?

    how to file form 8843

    (Updated for 2022)

    There are 3 things that every US international student and J-1 visa holder needs to know about American tax:

      1. Every US international student and J-1 visa holder has a tax filing requirement
      2. It doesn’t matter if you have earned income. You must still file your documents before the deadline
      3. The IRS takes this stuff seriously! In other words, if you don’t comply with your tax obligations, you may encounter complications when applying for US visas in the future

    Regardless of whether you have earned income during your time in the US, if you are a nonresident in the US, you will still need to file what’s known as a Form 8843 “Statement for Exempt Individuals and Individuals With a Medical Condition”.

    This blog post will focus on exactly what you need to do in order to file this form and remain compliant with the IRS.

    NOTE: If you are considered a resident for tax purposes, you are not required to file form 8843.
    Continue reading “Form 8843 – what is it and how do I file it?” »