Hello,
I came to US in 2007 on F1... And filed 1040A for 2007 instead of 1040NR and my federal tax withheld/& Refund was minimal like $30-35.. so now I need to file 1040X form, along with my 1040NR(2008).. Am I correct?

Also,
Approximately what should be my penalty in revising that 2007 tax-return??

Thank you

RD

You must file Form 1040X with properly done nonresident tax return and Form 8843. You must pay tax due with interest and penalty. You can request for waiver of penalty. Read: Your U.S. Tax Return: U.S. Tax Filing Requirements for Non-Residents (http://taxipay.blogspot.com/2008/03/us-tax-filing-requirements-for-non.html)

I have paid a tax consultant for doing my taxes and he did this mistake. Is there anyway I can retrieve the money I paid to him or anything like that?

Talk to tax consultant. They should file your 1040X for free.

I've tried to talk with him but he did not respond till now :(
I've already made the calculations, but have a few questions before being set.


Can I used the 2008 1040NR-EZ and its instructions to calculate previous years tax? Specifically, I am using student loan($2500), US-India treaty ($5450) and personal exemtion($3500)
If I can't use 2008's forms- where can I find the older ones?
After sending this- I have to wait till I hear from them? Can I submit this year's return (2008) in mean time?
From your suggestions- I guess I have to properly explain the reason for wrong form and they might waiver the penalty and get back to me.


This mistake is being done my lot of my friends, and repeated this year too! I guess more education or awareness needs to be provided by educational institutions or companies which hire F1's and H1's

You must use 2007 tax forms. You can get them at Internal Revenue Service (http://www.irs.gov)

Student loan payment is not deductible. It is student loan interest payment. What form do you have for this?

Hi MukatA,

I do not have any forms for student loan. I just have a bank statement and I might try to get the 1098-E form, from them. But that takes time. May be I will not take the risk.

Please tell me if I can file this amend after filing this year's tax return.

Yes, you can amend the return to claim the student loan interest IF you can accurately determine what the interest was.

A call to the loan originator should get you that information.