Tax preparation software available to nonresident international employees and students for free with Sprintax Returns

Carolyn Salter — Tue, 28 Jan 2025 19:08:21 +0000

Tax preparation software available to nonresident international employees and students for free with Sprintax Returns Carolyn Salter Tue, 01/28/2025 - 12:08

As the new year begins, CU faculty, staff and students will begin receiving critical documents needed to file their annual income tax returns. For certain international employees and students, this means receiving Forms W-2 and/or 1042-S from CU over the next month.

Form W-2 is issued to any employee who receives taxable wages from CU and was required to be sent out to all employees by Jan. 31. If you didn’t receive your W-2 in the mail, visit the Tax Forms webpage to learn how to obtain a copy.

It’s also important to remember that even if they did not earn U.S. income, nonresident F and J students and scholars are required to file IRS Form 8843.

Form 1042-S available electronically through Sprintax Calculus

Form 1042-S is issued to resident and nonresident alien employees to report tax treaty exempt wages. Nonresident alien scholarship and stipend recipients with taxable or tax treaty exempt income will also receive form 1042-S. Employees and students with more than one type of 1042-S reportable income should expect to receive more than one 1042-S.

For the first time, tax year 2024 1042-S forms for employees and students will be available electronically in Sprintax Calculus, eliminating delivery errors and reducing wait times for these critical reporting forms. Paper forms will be mailed only to individuals who have not provided consent to receive their 1042-S form electronically through Sprintax Calculus. Please watch for email in February from CUintltax-noreply@sprintax.com with notification that 1042-S forms are available.

Sprintax Calculus integrates with free Sprintax Returns

This year, CU is again partnering with Sprintax to support nonresident alien employees and students in their personal tax filing obligation. The International Tax Office will offer a discount code to access Sprintax Returns online tax preparation tool free of charge.

The discount code will enable nonresident alien employees and students in F or J status to file their 2024 federal tax return and other required forms. Sprintax can also help with state tax filing. However, if you elect to file a state tax return using Sprintax, you’ll need to pay an additional fee.

In addition, Sprintax Returns integrates with Sprintax Calculus, the International Tax Office’s platform for gathering international employees’ documents, saving you time during the tax season. All international employees are required to complete a Sprintax Calculus profile during onboarding and to maintain their profile with updates as their circumstances change.

Together, Sprintax Calculus and Sprintax Returns provide a user-friendly and reliable resource to help international employees:

Determine resident or nonresident U.S. tax residency status and filing requirements.
Prepare preemployment tax documents including forms W-4, W-8BEN, W-9 and 8233 which can be signed and submitted electronically to ensure accurate withholding.
Prepare necessary tax return documents including forms 1040-NR and 8843 which can then be printed, signed and mailed for filing with the IRS and State Department of Revenue. (Some users may be able to file electronically, instead.)
Ensure all applicable tax treaties are applied.
Find assistance and information with an available FAQ, blog, YouTube channel and email access to Sprintax tax professionals.

To take advantage of Sprintax Returns, watch for emails from the International Tax Office, that include your discount code, in February and March.

��ý�Ļ��Ʒ the International Tax website anytime throughout the year to learn more about your filing obligations.

Finally, Sprintax will host regular tax webinars throughout the spring where you can learn more about your U.S. tax filing obligations and how Sprintax can help you meet them.

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Taxable Scholarships and Stipends

Anonymous — Thu, 18 Jul 2019 14:30:01 +0000

Taxable Scholarships and Stipends Anonymous (not verified) Thu, 07/18/2019 - 08:30

CU's International Tax Office wants to inform international students that their U.S.-sourced scholarships and stipends may be subject to tax withholding and/or reporting.

Student bursar accounts are routinely reviewed for taxable scholarship. This includes:

1) U.S.-sourced scholarships in excess of tuition and mandatory fees, after tuition waivers and credits are applied;

2) Any amount of housing, including resident advisor credits; and

3) Any amount earmarked for travel.

When a taxable scholarship is identified, tax equaling 14% of the nonqualified amount is charged to the student’s bursar account and the student is notified, via email, of the amount due. The tax is sent by the university to the Internal Revenue Service (IRS) as a credit toward the student’s annual tax liability. Students should contact their campus Bursar Office with questions related to payment due dates and penalties for late payment.

Individuals eligible for tax exemption through a treaty between the U.S. and their country of tax residency, who have completed the required forms with an international tax specialist, are not subject to this withholding. Both taxable and tax treaty-exempt nonqualified amounts are reported on Form 1042-S, which is issued to students after the close of the tax year for use in filing their personal income tax returns. Please access the International Tax FAQ for more information about filing income tax returns.

Non-wage stipends paid on a biweekly or monthly basis through the payroll system are also taxable at 14% and/or reportable when provided to international nonresidents. All international students and scholars who will be paid through the payroll system are required to schedule a ‘new employee’ or ‘stipend recipient’ appointment with the International Tax Office as soon as possible so the proper withholding or exemption can be applied. Appointment availability may be delayed during busy times of the semester.

Questions regarding taxable scholarships and stipends can be emailed to International Tax.

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