Tax Form Glossary
Source: https://global.utexas.edu/isss/advising-services/taxes/tax-forms Parent: https://global.utexas.edu/isss/advising-services/taxes
There are multiple tax forms out there, and it is easy to get them confused. Some are issued to you, and others you will need to complete. Many tax forms you may encounter once and then never again and many others that you will see only once a year. However, it's important that you know what all of them are for.
International Student and Scholar Services (ISSS) has developed a tax form glossary to help you understand the various forms and what to do, or not do, with them.
Tax Forms Issued to You
Depending on your tax residency status and the types of income you earned, you may receive some of the following forms during tax season (January-April).
A W-2 is used to report wages earned by employees and the taxes withheld from their paychecks. For international students and scholars working at a university, receiving a W-2 means they have earned income that is subject to U.S. taxes, and they need to use this form to file their tax returns. - Form 1042-S
A 1042-S is a tax form to report income earned by nonresidents for tax purposes, including international students and J-1 scholars, from sources such as wages, scholarships, fellowships, and grants. This form details the amount of income received and any taxes withheld, which is essential for filing tax returns. Understanding the 1042-S helps international students and scholars ensure they comply with U.S. tax laws and potentially claim refunds for overpaid taxes. - Form 1099-Misc
A 1099-Misc is a tax form used in the United States to report various types of income that are not covered by other 1099 forms, such as freelance work, rent, and prizes. For international students, receiving a 1099-Misc means they have earned income that may be subject to U.S. taxes, and they need to report this income when filing their tax returns. - Form 1098T
The 1098-T is a form that shows the amount of tuition you paid during the tax year (January-December)
- Nonresidents for tax purposes: if you are not a resident for U.S. tax purposes, you will not be able to claim the exemptions and therefore do not need the 1098-T; keep it for your files
- Residents for tax purposes: this form is needed by U.S. tax residents to claim certain exemptions
Forms You Complete
Depending on your tax situation, you may need to submit some of the following U.S. Internal Revenue (IRS) forms.
Important: All nonresidents for tax purposes must complete Form 8843.
When you arrive in the U.S. and begin a job, the first tax document you must complete is the W-4 Form. All employees must complete this form. It determines the amount of tax that will be withheld from your paycheck, not including tax treaty benefits.
- Answer the form to the best of your ability.
- ISSS cannot help you answer the questions
You might also find this Sprintax blog post useful. Sprintax is a service we provide to students every tax season to help them complete their federal tax returns. - Form 8843
All nonresidents for tax purposes must complete form 8843 even if they did not receive income during the tax year.
Form 8843 (PDF) - Form 1040-NR
The 1040-NR is the primary form you will use to file your federal income tax return. It help you determine your tax obligation for the tax year. If you overpaid taxes (through wages or a scholarship), you will receive a refund. If you didn't pay enough taxes for the tax year, you will owe the IRS.
Used to ask for an extension to file taxes after the April 15 tax deadline.
Used to file an amendment of a previous year's tax return.
Required to request a refund of Social Security and Medicare Taxes.
Required to request a refund of Social Security and Medicare Taxes and must be submitted with Form 843.