 |
|
| Browse | Ask | Answer | Search | Join/Login |
|
|
||||
|
OPT- $24k pa - Taxes
Hi,
Am currently working on OPT and being paid $24k per annum as stipend during the 6 months training period. My presence in NJ,US is from Aug 2008 till date on F1 status. My employer initially said this income is not taxable as my stipend is below base amount. Is it so? Or in case wrong, what are the taxes do I need to pay? Thank you. |
||||
|
||||
|
In my opinion, you DO owe income tax (federal and New Jersey) on the stipend, unless the OPT period is considered an unpaid internship and the stipend is issued to reimburse you for living costs.
If it IS reimbursement, then you will NOT get a W-2. If not, your employer will issue you a W-2 in January 2011. |
||||
|
||||
|
On F1/OPT you are exempt from residency for 5-years. You must file non-resident tax return Form 1040NR or 1040NR-EZ and Form 8843. Your income is not subject to FICA taxes but you must pay federal and state income taxes. On your income you will get deduction based on tax treaty between the U.S. and your country. Your U.S. Tax Return: U.S. Tax Filing Requirements for Non-Residents |
||||
| Question Tools | Search this Question |
Add your answer here.
Check out some similar questions!
I've got a Gibson GQ3RA-24K I've been using it with out the heat coils. It's on a double 30amp breaker with 10gage wire. I'm wanting to hook the heat coils up but don't know if that wire will be enough. What size wire should I have?
Hi Can someone help me to get excat tax calculation. I am in OPT and getting $60000/year.so,how much will I be getting per month after taxes.I am working in Texas.
Hi, I worked for a company since jan 2006. I was on opt till oct 2006 and was on h1 from oct - dec 2006. I noticed that my company deducted social security and medicare taxes for the whole year. I came to know from this site that ss and medicare taxes should not be deducted while I was on opt,...
I came to the US in November 2002 on a F1 Visa. Graduated in December 2005, and started my OPT (still under F1 visa) in January 2006. I did my Optional practical training at a Mental Health Counseling Agency where, as part of my deductions they included health insurance, federal and state taxes,...
Hello, I am currently on OPT and my employer is deducting Medicare and Social Security Taxes in error. Apart from my OPT card what other form or document(s) do I need to provide to my employer in order to get the refund. Thanks in advance, Sharma
View more questions Search
|
