September 7th, 2010 
admin 2005 federal income tax extension
How are foreign students on F-1 visas living in NY treated for tax purposes in NY State? Same as residents?.
For the 2005 tax year, I was living in NYC and was on an F-1 (foreign student) VISA for the entire year. Part of the year I was a student taking classes at university. The other half of the year I was working full-time while on an F1 VISA, as "on the job education/training". I received income from the job (signing bonus while at school, and salary when working). I am unsure how to file my taxes (State and Federal). I currently have an extension to file. Any help/advice would be useful, including sources of information. Thank you.
It sounds like you will need to file Form 1040NR. See this link for instructions for the form: http://www.irs.gov/pub/irs-pdf/i1040nr.pdf
Note that you may be eligible for an exemption from 'resident alien' status due to your status as a student while in the US. See pages 2 and 3 of the instructions for the 'substantial presence test' and the exemption for days in the US as a student when determining whether you were here for 183 days.
If you meet the above exemption and are not a US citizen or permanent resident, then you will only be taxed on your US-source income (not your worldwide income as US persons are taxed). You would still report the income from your job on Form 1040NR, as well as any other US-source income (i.e. interest and dividends on US accounts or securities).
You could also check into any benefits you may receive under an income tax treaty between the US and your home country. See Appendix A of Publication 519 at http://www.irs.gov/pub/irs-pdf/p519.pdf for more information. The remainder of that publication will also give you some more useful information.
 |
No items matching your keywords were found.
Remarks by Karen Mills of the SBA
Posted in 
Tags: 
