garfield_life
help for opening saving account
834
5
2006-10-08 18:35:00
In the last step of application for Citi E-Saving account, I was asked to check a Box for "Tax Verification", about being not subject to backup withholding.
Did Anyone have this expericence or idea?
My understanding is that if we check the box, we needn't to pay tax for our interest income, is that right?
Usually, do people report such small income when fill tax return form? If check the box, is there any problem or bad result in the future (My status is F1< 5years)?
Thanks very much!
[此贴子已经被作者于2006-10-8 23:09:54编辑过]
1) in either case, everyone must pay the tax for the earned interests.
2) for F1, in either case, you do not pay the tax for the earned interests. If they have charged (withhold) the money, just get it back when you file the tax return.
3) for income, no matter how small it is, you should report it.
1) in either case, everyone must pay the tax for the earned interests.
2) for F1, in either case, you do not pay the tax for the earned interests. If they have charged (withhold) the money, just get it back when you file the tax return.
3) for income, no matter how small it is, you should report it.
My understanding:
1. needs to report anyway.
2. interests will be considered as foreign income and will not be taxed, even if it has been withhold, it can be asked back later.
Right? Thank you~ for the great help.
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