Tax Tutorial 2015

7/21/2019 Tax Tutorial 2015

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UnderstandingU.S. TaxesBechtel International CenterStanford Universityicenter.stanford.edu


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provides basic information about completing U.S.

federal tax forms for international students andscholars who qualify as non-residents for U.S. tax

purposes

provides information about who is considered aresident and non-resident for tax purposes (see slide 5)

!

Taxes are filed each April 15 for income received between January 1 toDecember 31 the previous year.

This Presentation

! Stanford University cannot provide formal tax advice to individuals.Accordingly, no information on this site may be considered formal taxadvice. Please consult professional tax services as necessary.


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Who must file tax forms?

All international students and scholarsare expected to complete and file taxforms with the U.S. federalgovernment, whether or not they havehad any U.S. source of income.

F-2 and J-2 dependents must also filecertain tax forms.

Income is money from any sourceincluding wages for work and/or money

from a fellowship or scholarship whichis U.S. based.


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Federal and State taxes are usually withheld from each paycheck that youreceive.

Every quarter, your employer or funding organizations reports this amount tothe Internal Revenue Service(IRS).

Every year when you complete your tax forms, you calculate the total tax youowe for the year and compare it to what has already been withheld from you.

If youve underpaid, you need to pay the amount you owe to the IRS.

If youve overpaid, the IRS refunds the amount youve overpaid.


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Am I a resident or non-resident fortax purposes?

Most international students and scholars qualify as non-residents for tax purposes

The tax forms you file are determined by your tax status

Your tax status is different from your immigration status inthe U.S. and is determined by how long youve been in theU.S.


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Am I a resident or non-resident for taxpurposes?

Scholars on J visasIf, in 2014, you were physically present in the U.S. for fewer than 2calendar years as a scholar (if you first arrived on or after 1/1/2013), youare probably a non-resident for tax purposes. (Note: You must count acalendar year even if you were not present in the U.S. for the entire year.)

Scholars on H visasIf you are on an H-1 temporary worker visa and were physically presentin the U.S. for more than 183 days in 2014, you are probably a resident for

tax purposes.

Students on F or J visasIf, in 2014, you were physically present in the U.S. for fewer than 5calendar years as a student (i.e. you arrived on 1/1/2010, or after), you areprobably a non-resident for tax purposes. (Note: You must count acalendar year even if you were not present in the U.S. for the entire year.)

You can check your tax status by taking

the Substantial Presence teston the IRS website:


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If you are a resident for tax purposes

The information in this presentation does notapply to you

Tax residents must complete the same forms as U.S. citizens

If you need help completing your tax form, you can:Find a professional tax preparer in the phone book or the internet underthe heading Tax Return Preparation or purchase a commercial taxsoftware program


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Did you receive a U.S. source of income

during the previous year from Jan 1 to Dec 31and are you a non-resident for taxpurposes?

If you are a non-resident for tax purposes,the information in this presentation applies to you.


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To know which forms you must complete, youmust first determine whether you received anyincome from a U.S. source during the previous

year from Jan 1 to Dec 31.

Detailed information can be found here-

How do you determine if you havehad a U.S. source of income?from Jan 1 to Dec 31


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What tax forms do I have to file?

Only Form 8843 is requiredGlacier Tax Software, which is available on our website startingearly March will help you to complete this form

If you had no U.S. source of income duringthe previous year from Jan 1 to Dec 31:


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What tax forms do I have to file?

Form 1040NR/Form 1040 NR-EZGlacier Tax Software, which is available on our websitetarting early March, will help you to complete these forms

If you had a U.S. source of incomeduring the year from Jan 1 to Dec 31:

Form 8843

and


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What documents do I need to file mytaxes?

2. Form 1099

if you earned interest income from a U.S.bank account

3. 1042-S form

if you claim a tax treaty or if you received anon-service scholarship or fellowship in excessof tuition/required fees/books and supplies

1. W-2 form

if you had any U.S. based income(including OPT/CPT employment)this form should have been mailed

to you by January 31. If youreceived wages from a non-

Stanford employer, you shouldreceive a W-2 from that employer.Contact the employer directly if

you do not receive this form


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Where do I mail my State Tax Forms?

Mailing Address for California State Tax Form 540

If your tax return shows a refund or no amountdue, mail your forms to:

Franchise Tax BoardPO Box 942840

Sacramento CA 94240-0001

If you are enclosing a check or money order,mail your forms to:

Franchise Tax BoardPO Box 942867Sacramento CA 94267-0001


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Deadlines

A W-2 form should be mailed to you by January 31.

J NU RY

If you received wages from a non-Stanford employer, you should receive a W-2 from that employer.Contact the employer directly if you do not receive this form.


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Deadlines

A 1042-S form should be mailed to you by March 15.

M R H

5


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Deadlines

Tax returns must be mailed by April 15.This applies to both Federal and State Taxes.

PRIL

5


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Deadlines

If you had no U.S. source of income:Form 8843 should be mailed by June 16.

JUNE

6


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Can Bechtel help me to file my taxes?

Staff at Bechtel International Centercannot provide tax advice. Pleaseremember that the accuracy of your taxreturns is your personal responsibility.

However, each year Bechtel InternationalCenter, in cooperation with theControllers Office, purchases an onlinetax software package called GLACIERTax Prep, and makes it available free ofcharge to all international students andscholars in F or J status at Stanford

University.

Regardless of how you choose to complete your taxforms, you should keep all copies of your tax returnsin a safe place for at least SIX years. You may needthem when applying for future immigration benefits.


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Tax Information Workshops

Federal Tax workshops will be held in the

Havana Room at the Graduate Community Center:

Friday, March 6th, 2015 10.30 a.m. - 12.30 p.mFriday, March 6th, 2015 6 - 8 p.m

In addition to the GLACIER Tax Prep software, the Bechtel International Center has organizedtwo tax workshops to assist you better.


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Here are more resources that you mightfind useful for your tax filing.

http://www.irs.gov/http://www.irs.gov/Individuals/International-Taxpayers/Foreign-Students-and-Scholars

http://www.irs.gov/Forms-&-Pubs

https://www.ftb.ca.gov/forms/search/index.aspx

Internal Revenue Service (IRS) links

IRS Forms and Publications

California State Tax Forms


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Tax Tutorial 2015

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