Sprintax Returns Walkthrough Video - 2021 Tax Season

Sprintax
22 Mar 202210:20
EducationalLearning
32 Likes 10 Comments

TLDRIn this Sprintax walkthrough video, Anna Fitzpatrick from the Sprintax tech team guides viewers through the process of using Sprintax for non-resident tax filing for the 2021 tax season. The video covers the steps to set up an account, prepare tax returns, and transfer data from the previous year. It emphasizes the importance of determining residency status and provides options for claiming tax treaties and offsetting certain expenses. Sprintax also assists with state tax filings and offers 24/7 live chat support. Additionally, the video introduces Sprintax Forms, a separate system for pre-employment tax documents, and mentions the availability of educational resources, including YouTube videos, a blog, and tax workshops.

Takeaways
  • πŸ“ Sprintax is a tool designed to assist with non-resident tax filing obligations for the 2021 tax season.
  • πŸ”— If you received a communication from your school with a link and discount code for Sprintax, be sure to use it when setting up your account.
  • πŸ’Ύ Before starting the questionnaire, ensure you have all necessary documents like income documents and Form 1042-S on hand.
  • 🏑 The questionnaire will ask for residency determination, including questions about your U.S. presence, entry and exit dates, and visa types.
  • 🚫 If determined to be a tax resident, you won't be able to continue with Sprintax, but will be directed to TurboTax for resident taxes.
  • πŸ†” General details like your name, Social Security Number or ITIN, and U.S. income status for 2021 are required.
  • πŸ“ You'll need to provide your U.S. and home addresses, passport details, and a contact number.
  • πŸ’Ό Details of income documents like W2, 1042-S, or 1099 forms are necessary, and Sprintax has OCR technology to help with document uploads.
  • πŸ“ž 24/7 live chat support is available during the tax filing season for any questions or assistance.
  • πŸ“Š The system can help determine state tax filing obligations and if applicable, guide you through the process.
  • πŸ’° You have the option to claim tax treaties and offset certain expenses like charitable contributions or student loan interest.
  • 🏫 Information about your university, program, and university address is required.
  • πŸ“ˆ Sprintax offers e-filing for federal tax returns, with detailed instructions provided for those who cannot e-file.
  • πŸ“š Additional support includes educational tax videos on YouTube, a blog for tax awareness, and tax workshops/webinars throughout the season.
  • πŸ“‹ Sprintax Forms is a separate system that assists with pre-employment tax documents like W-4 and W-9, different from end-of-year tax filing.
Q & A

  • What is the purpose of the Sprintax walkthrough for the 2021 tax filing season?

    -The purpose of the Sprintax walkthrough is to guide users through the process of using Sprintax for their non-resident tax filing obligations, explaining the steps involved and how the system can assist them.

  • Who is the presenter of the Sprintax walkthrough video?

    -The presenter of the Sprintax walkthrough video is Anna Fitzpatrick, a member of the Sprintax tech team.

  • What should users do if they have received communication from their school with access to Sprintax?

    -Users should follow the provided link and use any discount or access code that has been given to them.

  • What is the first step in the Sprintax questionnaire?

    -The first step in the Sprintax questionnaire is to determine the user's residency status for tax purposes by asking questions related to their presence in the U.S., entry and exit dates, and visa types.

  • What happens if the system determines that a user is a resident for tax purposes?

    -If the system determines that a user is a resident for tax purposes, they will be informed that they cannot continue to use Sprintax, which is a non-resident tax provider. They will be directed to use TurboTax, Sprintax's partner for resident taxes.

  • How can users save time when moving through the 2021 questionnaire if they used Sprintax for the 2020 tax filing season?

    -Users can save time by transferring their data from the 2020 tax filing season into the 2021 questionnaire. The system will populate a number of questions based on the user's 2020 data.

  • What is the role of the Optical Character Recognition (OCR) technology in the Sprintax system?

    -The OCR technology in the Sprintax system allows users to upload a copy of their income document, which will then be automatically populated on the system, saving time during the questionnaire process.

  • What support options are available to users during the tax filing season?

    -Sprintax offers 24/7 live chat support, access to frequently asked questions, and educational tax videos on YouTube. Additionally, they provide tax workshops and webinars throughout the tax season.

  • How does Sprintax assist with state tax obligations?

    -Sprintax can determine if a user needs to file a state tax return and, if applicable, will outline the additional questions and requirements for the specific state tax laws.

  • What is the process for users who are not eligible to e-file their federal tax return?

    -If a user is not eligible to e-file, they will be provided with a tax pack containing detailed instructions on how to print, sign, and mail their tax return to the IRS.

  • What is the difference between Sprintax Returns and Sprintax Forms?

    -Sprintax Returns is focused on assisting with non-resident tax filing obligations, while Sprintax Forms is a separate system that assists with pre-employment tax documents such as W4, W-9, or Form 8233.

  • How can users find additional information and resources about non-resident tax filing and the Sprintax process?

    -Users can find additional information and resources on the Sprintax YouTube channel, which features educational tax videos, and through the Sprintax blog, which provides content for tax awareness.

Outlines
00:00
πŸ˜€ Sprintax Walkthrough Introduction

Anna Fitzpatrick, a member of the Sprintax tech team, welcomes viewers to the 2021 tax filing season walkthrough. She explains that the video will guide users through the Sprintax questionnaire process for non-resident tax filing obligations. She advises viewers to have all necessary documents ready before starting and mentions the option to transfer data from the previous year to save time. The importance of determining residency status is emphasized, and it's noted that Sprintax is designed for non-resident taxpayers. If a user is determined to be a resident for tax purposes, they will be directed to TurboTax. The video also covers the collection of personal details, income information, and the use of OCR technology for document uploading. Support options, including live chat and tax treaties, are also discussed.

05:02
πŸ“š Detailed Sprintax Process and Features

The second paragraph delves into the specifics of using Sprintax, including the ability to offset certain expenses like charitable contributions or qualified student loan interest. Details about the user's educational institution, program, and university are required. The system also assists with state tax obligations, determining if a state tax return is necessary. An overview of the order breakdown is provided, including federal and state tax returns, and the option to apply for an ITIN if needed. The video highlights the availability of e-filing for federal tax returns and what to do if e-filing is not possible. It also mentions additional support resources such as educational videos, a blog, live chat, tax workshops, and webinars. Lastly, it introduces Sprintax Forms, a separate system for pre-employment tax documents like W-4 and W-9, distinct from the end-of-year tax filing process.

10:03
πŸŽ“ Conclusion and Final Remarks

In the concluding paragraph, the presenter thanks viewers for watching and wishes them luck with their tax filing obligations. She encourages viewers to check out additional resources, including more videos on the Sprintax YouTube channel, which provide further information on non-resident tax filing and the Sprintax process.

Mindmap
Keywords
πŸ’‘Sprintax
Sprintax is a tax preparation software specifically designed to assist non-residents with their tax filing obligations. It is the central focus of the video, as the presenter, Anna Fitzpatrick, guides viewers through the process of using Sprintax for the 2021 tax filing season. The software helps determine tax residency status, assists with federal and state tax returns, and offers support for tax treaties and deductions.
πŸ’‘Tax Filing Season
The tax filing season refers to the period during which individuals and businesses are required to submit their tax returns to the relevant tax authorities. In the context of the video, it is the time frame in which users of Sprintax are encouraged to prepare and file their non-resident tax returns for the year 2021.
πŸ’‘Non-Resident Tax Filing Obligations
Non-resident tax filing obligations pertain to the tax requirements that individuals who do not maintain a permanent residence in a given country must fulfill. In the video, Anna discusses how Sprintax helps non-residents determine their tax status and file their taxes accordingly, which is crucial for compliance with U.S. tax laws.
πŸ’‘Residency Determination
Residency determination is the process of establishing whether an individual is a tax resident or non-resident. The video explains that Sprintax asks a series of questions related to the user's presence in the U.S., visa types, and entry/exit dates to ascertain their tax residency status, which is a fundamental step in the tax filing process.
πŸ’‘Form 1042-S
Form 1042-S is a U.S. tax form used to report income received by foreign persons, such as non-residents, from U.S. sources. In the video, Anna mentions that users waiting for a Form 1042-S would need to have it on hand when preparing their non-resident tax return using Sprintax.
πŸ’‘Optical Character Recognition (OCR)
OCR is a technology that allows the scanning and conversion of documents into editable text formats. Sprintax utilizes OCR to facilitate the upload and data population of income documents, such as Form 1042-S, making the tax preparation process more efficient for users.
πŸ’‘Tax Treaties
Tax treaties are agreements between countries to prevent double taxation and regulate how taxes are applied to individuals and businesses operating across borders. The video highlights that Sprintax can help determine if a user is eligible to claim benefits under a tax treaty and guide them through the process if applicable.
πŸ’‘E-Filing
E-filing refers to the electronic submission of tax returns directly to tax authorities. Anna mentions that Sprintax supports e-filing for federal tax returns, which streamlines the filing process and offers convenience to users, although certain individuals may not be eligible due to specific circumstances.
πŸ’‘Form W-7
Form W-7 is used by individuals who need to apply for an Individual Taxpayer Identification Number (ITIN) from the U.S. Internal Revenue Service. In the context of the video, Sprintax can assist users without a Social Security Number in preparing Form W-7, which is necessary for filing federal tax returns.
πŸ’‘State Tax Returns
State tax returns are documents filed with individual state tax authorities to report income earned within that state. The video explains that Sprintax can determine if a user has a state tax filing obligation and guide them through the process, including identifying multiple state tax obligations if applicable.
πŸ’‘Sprintax Forms
Sprintax Forms is a separate system from Sprintax that assists with pre-employment tax documents such as the W-4, W-9, and Form 8233. It helps determine tax residency status, tax treaty eligibility, and exemption from FICA taxes for new employees. This system is distinct from the end-of-year tax filing process covered in the video.
Highlights

Introduction to Sprintax for the 2021 tax filing season

Presenter: Anna Fitzpatrick from the Sprintax tech team

Sprintax provides a walkthrough of the tax questionnaire and process for non-resident tax filing obligations

Instructions on how to use Sprintax if you have received access from your school or institution

Option to transfer data from your 2020 tax return to the 2021 questionnaire to save time

Residency determination is a crucial first step in the questionnaire

If determined as a tax resident, users are directed to TurboTax for resident taxes

Gathering general details such as name, social security number, and U.S. income status for 2021

Assistance with applying for an ITIN if needed

Collection of U.S. and foreign addresses, passport details, and contact information

Input of income documents received during the tax year, including W2, 1042-S, or 1099 forms

Use of OCR technology to upload and populate income documents on the system

24/7 live chat support and access to frequently asked questions

Assistance with tax treaties and eligibility claims

Options to offset certain expenses like charitable contributions or student loan interest

Collection of university, program, and course details

System assistance with state tax filing requirements and obligations

Order breakdown provides a summary of services including federal and state tax returns, and ITIN application if needed

E-filing available for eligible federal tax returns, with detailed instructions for non-e-filed returns

Additional support through educational videos, blog content, tax workshops, and webinars

Introduction to Sprintax Forms for pre-employment tax document assistance

Sprintax Forms helps with residency determination, tax treaty eligibility, and preparing W4, W-9, or 8233 forms

Differentiation between Sprintax Returns for year-end tax filing and Sprintax Forms for pre-employment documents

Closing remarks and thanks for tuning in, with encouragement to explore additional resources

Transcripts

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Tax FilingNon-ResidentSprintax2021 SeasonAnna FitzpatrickEducationalResidency DeterminationTax TreatiesE-FilingTax WorkshopsSprintax FormsPre-Employment Documents