Folks,

I need some help. Here are quick details:

-On F1 status for the past 4 years (Note: Also on F1 as of Dec 31 2006)
-I'm working on OPT and earned US income
-Also I have made some interest income through ING Savings account

I used CINTAX to file my taxes and even on asking about my taxable INTEREST INCOME it filled out 1040NR-EZ. After talking to people I found that I had to pay IRS tax on my interest.

Do I just wait for IRS to touch base with me or shall I re file it. I'm confused. If there is an addendum please direct me there.

Peace

You can amend the return using Form 1040X, but if the interest income is less than $300, I would not bother. The IRS normally does not pursue any case unless the total tax due exceeds $50.

I am not sure if interest on savings account in a US bank is taxable unless it is directly related to a US trade or business.

Please clarify with a tax professional.

International students normally do NOT have to pay taxes on interest income from a bank.