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    satyaraghu's Avatar
    satyaraghu Posts: 3, Reputation: 1
    New Member
     
    #1

    Oct 28, 2005, 07:35 AM
    Tax specilist
    I am working on CPT... I want to know tax eligibility on this period.

    1. Do I need to pay... state, federal, FICA, NJUC?

    2. Out of these entire all are applicable to me?

    3. If any, how much %?

    4. Can I claim any taxes after 1 yr by W2? If yes, how much % can I claim back?

    5. when can I claim back ?

    6.what is the form I need to fill to cliam by taxes...

    Please give me your response ASAP... thank you...
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #2

    Oct 31, 2005, 02:55 PM
    Satyaraghu:

    Not sure what CPT is, but if it's similar to OPT and involves you having a H-1B visa, you will owe:

    - federal income taxes (starting at 10% and probably not more than 25%).
    - state income taxes (depends on the state and income level)
    - Social Security Taxes (6.2%)
    - Medicare taxes (1.45%)

    You can file tax returns to claim refunds for 2002, 2003 and 2004. If you are owe refunds for 2001 or earlier, you have, by law, forfeited those refunds. You must, however, still file tax returns for those years, or the IRS (and the state taxing authority) will withhold the refunds for 2002, 2003 and 2004.

    If you are on a H-1B visa, you should file Form 1040/1040A/1040EZ.

    If you are on a different tyoe visa, provide that information and I will modify my answer accordingly.

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