Taxation Away from Home

Moving to a new country with a new culture and currency can be challenging, and with tax season around the corner, it can add to the stress of being a student. Luckily, by planning ahead and getting the right help, this time of year doesn’t have to be a heavy burden.

Should I file taxes?

The first thing you should know is even if you didn’t earn any income, if you lived in the U.S., you still need to file your taxes. If you earned income — such as wages from working a job, dividends from an investment opportunity, or non-money compensation, such as room and board — you will need to file a tax return. If you earned no income, you still need to file an 8843 form. How you file depends on your taxation residency status, so that’s the first thing you need to know.

What do I need?

Filing for the first time doesn’t have to be hard! You need the following items:

• Income statements from your employers (if applicable).
• 1042-S form (if applicable).
• Your visa and passport.
• A copy of your 2022 tax returns (if applicable).
• A list of your U.S. entry and exit dates.

Where can I go for additional help?

If you’re an international student, there are resources to help and support you! Many college campuses have offices specifically designed to support international students and they will be able to walk you through this process as well. This year, taxes are due on April 18, 2023; however, you can file as early as now. Arranging your paperwork and meeting with a professional early on will help you tremendously! The later you wait, the busier your tax preparer will be and the less time you will have to produce any additional documents needed.

Some final reminders:

• It’s a good idea to keep copies of everything you send out.
• If possible, file electronically to avoid any delays the IRS offices may be facing.
• Don’t forget about city and state taxes.

Sources:

https://www.irs.gov/individuals/international-taxpayers/foreign-students-scholars-teachers-researchers-and-exchange-visitors 

https://www.thebalancemoney.com/how-us-taxes-compare-with-other-countries-4165500 

https://shorelight.com/student-stories/filing-taxes-as-an-international-student/ 

https://taxclinic.law.msu.edu/International-Students-and-Scholars  

https://www.irs.gov/individuals/international-taxpayers/foreign-student-liability-for-social-security-and-medicare-taxes 

https://www.irs.gov/forms-pubs/about-publication-519 

https://www.statista.com/statistics/237681/international-students-in-the-us/