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SPRINTAX.COM
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IS INVESTMENT INCOME TAXABLE? Over recent weeks, stock trading apps, such as Robinhood and Etrade, have featured prominently in news headlines – dominating the public psyche more than ever before. Gone are the days when investing in stocks and shares was limited to Wall Street traders. In January 2021, when a large group of Reddit users banded together to invest in the video game retailer GameStop, we saw a clear 5 US TAX DOCUMENTS EVERY INTERNATIONAL STUDENT SHOULD KNOW A Taxpayer Identification Number (TIN) is a unique number that is used to identify you for tax purposes in the United States. Two of the most common types of TIN include the Social Security Number (SSN) and the Individual Taxpayer Identification Number (ITIN). 1. Form SS-5 & W-7. One of the first things that you should do when you arrive in the TAXES FOR STUDENTS ON OPT The IRS requires federal income tax withholding on all U.S. source payments to nonresident alien students. OPT as well as individual students are taxed on their wages at graduated rates (10% to 39.6%). It is depending on your income level. The tax percentage withheld on scholarships and grants for F-1 and J-1 visa holders is 14%. AU PAIR TAXES EXPLAINED An au pair is an individual between the ages of 18 and 26, who travels from their home country to live in the US with a family and work as a caregiver (foreign nanny). An au pair comes to the US as an Exchange Visitor on a J-1 visa and is not allowed to remain in the United States longer than one year. Working as an au pair is an unrivalled HOW TO TRACK THE PROGRESS OF YOUR NORTH CAROLINA TAX RETURN How to check the status of your North Carolina tax return. Once your return has been accepted and processed, you can check its status with the IRS or your State. To follow the status of your tax return, you can check the latest information on the North Carolina Department of Revenue website. You will need to have your last year’s North F-1 INTERNATIONAL STUDENT TAX RETURN FILING 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, the importance of completing these forms correctly cannot be underestimated. ARE YOU RESIDENT OR NONRESIDENT FOR TAX PURPOSES IN THE US? The Internal Revenue Service (IRS) officially open the tax filing season on 31 January each year. Both US residents and nonresident aliens are then able to file their tax return and claim any refund that might be due. Most of the readers of this blog fall into the ‘nonresident alien’ category but many may not actually know whatthat means.
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