TAX !!

[Scott Reza Jafarian]

Hello Fellows..

My name is Scott and I am a new post-doc at Vandy - Clinical Pharmacology.

I got stranded finding how to file a tax form to the IRS. I am a Non-emploee post-doc and the tax will not deduct automatically from the stipend. can anyone Help me? how do the previous Post-docs fill-out the forms??? noting that I do not have any other source of income.

Is anyone there to help?

PS: I did not worked in the US and this is the first time I am filling any kind of Tax return in me whole life. This is my FIRST TIME and nobody has even paid for me since me and my family did not lived in USA in the past 25 years !!!!

[qosoc...@gmail.com]

Hi Scott,

Since you're taxes will not be deducted automatically, you'll need to pay estimated quarterly taxes. You can use IRS Form 1040ES to estimate your payments and mail the appropriate vouchers to the IRS (TN has no state income tax, so you only need to worry about federal income tax). Come tax season (January-April of 2016), you'll then need to file a tax return to the IRS for the 2015 year (you can use a tax program like TurboTax to walk you through this pretty easily). At that point, you'll enter in the information from your estimated payments which you made throughout the year.

If you're still uneasy about this, a local tax agency (e.g., a local H&R Block) can help walk you through what you need to do.

If you have any other questions, let me know- I've had to do this the past couple years.

Boone

[Carlos]

Hi Scott,

To add to what Boone said, I would pay the estimated taxes every month, not quarterly as the IRS suggests. You can set this up on the IRS website and it will deduct the amount your estimated tax directly from your bank account. I found this to be best for me as it was similar to having your taxes taken out as with a normal paycheck; plus, you won't ever be surprised with a large deduction from your bank account.

Follow this link http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Estimated-Taxes and use the supplied PDF form to calculate your estimated tax. Then go to the IRS website indicated on the PDF to set up your account.

-Carlos

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[matthew.d....@vanderbilt.edu]

Scott,

Whether you qualify as having to pay taxes and how much, I know not.

This may help some: http://www.nationalpostdoc.org/component/content/article/69-postdocs/187-overview-of-tax-issues-for-postdocs
Pay particular attention to the International Postdocs section.
Also, see link for form Form 1040-ES at: http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Estimated-Taxes
You also need to carefully check the information regarding the training grant you are on.  Sometimes only a portion is taxable (you have to know what is earned versus unearned income).
Try emailing Briana Mullenax [bmul...@lbmc.com], she helped put on a "Paying Uncle Sam" seminar earlier in the year, and consider paying for a CPA (which she is) once to get your filings correct.
http://www.lbmc.com/management-directory/profile/financial-services/briana-mullenax

All income is taxable, unless it is excluded in the tax laws.  Best of luck.

Matthew Mazalouskas

On Tuesday, July 14, 2015 at 2:55:39 PM UTC-5, Scott Reza Jafarian wrote:

[Scott Reza Jafarian]

Thank you dear fellows, your posts helped a lot.

I will do that, However, I was trying to fill-out the ES form, but there are some spots that I did not know what number should I put. I will try to do it again.