Tax Tips for Students

For those of you that are waiting to file their 2010 tax returns until the last day, April 18th, here are a few tips:

*F-1 visa holders must file form 8843 even if you aren't required to file a tax return. If you are only filing form 8843, the filing deadline is June 15, 2011

*If you are filing a tax return, check with your school to see if they offer CINTAX tax software. The CINTAX software is for filing form 1040NR. 1040NR is mailed to the IRS and cannot be efiled. Many schools purchase a license for the CINTAX software and offer it free to their students and alumni.

*Federal and state rules are different so you may be considered a nonresident on your IRS tax return but considered a resident on your state tax return.

*If you are F-1 for part of 2010 and H-1B for the other part of 2010, you may be required to file a dual-status tax return which is more complicated.

*Unfortunately, the education credits (American Opportunity Credit and Lifetime Learning Credit) are not available if you (or your spouse) were a nonresident alien for any part of 2010 and the nonresident alien did not elect to be treated as a resident alien for tax purposes.

*Filing tax returns is important for your future in the US. For example, you may be required to show copies of previously filed tax returns if you are applying for a green card.



attorney@mylawllc.com
My Law, LLC
Immigration & Tax Law Firm
www.mylawllc.com