2023 VITA Tax Webinar for international students from India filing as nonresidents

The video script begins with an introduction to a tax filing workshop for Indian students at Arizona State University. It is clarified that the session is specifically tailored for students from India due to a tax treaty between the U.S. and India. The presenter outlines the rules, including the prohibition for university staff from assisting with tax-related matters, and directs participants to consult certified tax preparers or the IRS for personal tax inquiries. The presenter also mentions that the workshop will be recorded and shared on the ISSC YouTube channel.

The second paragraph provides information about the tax filing requirements for international students, particularly those from India. It details the conditions under which students need to file a tax return, such as having a W-2, Form 1042-S, or a 1099-NEC. The presenter also outlines the schedule for different seminars, including sessions for students from other countries, residents, and those who need to file an amended return.

This part of the script explains the limitations of the VITA program, including the types of tax situations they cannot assist with, such as income earned in states other than Arizona or specific financial transactions. It also clarifies the scope of help provided, like demonstrating the use of Sprint Tax software but not determining the accuracy of the tax return.

The script discusses the purpose of tax treaties, which is to prevent double taxation and encourage exchange in various fields between countries. It highlights the favorable tax treaty between the U.S. and India, explaining how it provides benefits such as a larger standard deduction, which reduces taxable income and thus the tax owed.

The presenter explains the specific tax forms that need to be filed, including Form 1040 NR for non-resident aliens and Form 8843 for all non-resident students and their family members. It also addresses the filing statuses available to international students, noting that they must file as single or married filing separately.

This section covers various sources of income that may affect tax filing, such as W-2 earnings, Form 1042-S for taxable scholarship income, and Form 1099-NEC for non-employee compensation. It also explains the process for requesting a refund if incorrect Social Security or Medicare taxes have been withheld.

The script provides information on where to find tax forms and resources, including the IRS website for federal forms and the Arizona Department of Revenue for state forms. It also mentions a special email for ASU students to ask tax-related questions and cautions about the limitations of assistance that can be provided via email.

The presenter demonstrates how to use Sprint Tax, starting with the process of signing in and accessing the system. It emphasizes the importance of having all necessary forms and documents ready before beginning and outlines the initial steps in the tax filing process within the software.

This part of the script explains how to report different types of income in Sprint Tax, including wages from a W-2, non-employee compensation from a 1099-NEC, and other miscellaneous income. It also covers how to report additional income not covered by federal forms.

The presenter discusses questions related to estimated tax payments, previous tax filings, and the ability to claim tax exemptions for dependents. It also addresses the topic of student loan interest deductions and the conditions under which they can be claimed.

The script outlines the process of entering college or university information in Sprint Tax, including details about the educational institution, program advisor, and course of study. It also covers questions about U.S. residency, including the type of visa, country of citizenship, and residency status.

This section explains how Sprint Tax calculates federal and state taxes owed or refundable, based on the information provided. It details the process of selecting how the refund should be received and the options available for taxpayers.

The presenter demonstrates the final steps in completing the tax return, including reviewing the information, generating the tax packets, and providing instructions on what to do next. It also shows an example of what the federal tax return will look like and how to handle state tax returns.

The script provides a detailed walkthrough of preparing the Arizona State tax return using a fillable form. It explains how to enter income information, calculate taxes, and choose standard deduction options. It also covers the process of printing and mailing the tax return or choosing direct deposit for refunds.

The video script concludes with a Q&A session where specific questions from the audience are addressed. The presenter thanks the attendees, provides contact information for further inquiries, and reminds viewers about the availability of the recorded webinar and additional resources on the ISSC tax information website.