L1 visa holder-Filing Tax Return for individual
Hello,
I am working in US since 15'th SEP 2007 on L1 visa.
I will be filing my tax returns for the first time this year. I will be staying in US till 16'th MAR 2008.
When I landed here I had to fill-u W2 tax declaration form & hand it over to my employer. I filled it with total coming to "3". Now every month my tax is being deducted from my salary.
My 2007 income in US was approx 15-16 thousand.And my income for 2008 till march would be approx 8k. These figures are after tax deductions.
My question is : After filing the tax returns will I be getting back any money for excess tax payment? I am asking this because I heard that for a financial year [jan-dec] one is eligible for tax on amount earned above 10,000$... so in my case for 2007, taxable income will be lets say 15000-10000 = 5000. Whereas I paid tax on 15K$...
Same applies for year 2008.
Expert help is appreciated.
Thanks,
Tax_Return