DUBLIN, April 11, 2013 /PRNewswire/ -- There are now 31% more foreign students studying in the US than there were a decade ago and according to Taxback.com, the experts behind the new tax file tool Sprintax, while the majority of these students will be required by US law to file a tax return before Apr 15 th – a significant percentage are unaware of the harsh penalties than can be incurred for failure to comply with US tax requirements.
Aoife Flynn, Vice President of Sprintax commented, " International students in the US have until April 15 th to file any and all of their tax returns. If they fail to do so they run the risk of being punished by the IRS. There are various penalties for non-compliance such as fines for filing late and also a possibility of future visa refusals.
Wading through the myriad of admin & paperwork often associated with filing a tax return can be a daunting and tedious process – which is why we developed Sprintax. With foreign students now making up 3.7% of all enrolments in the US (up 6% on last year) the number of international students filing tax returns in the US is growing significantly. We found that there was very little in terms of service offerings for these students. Sprintax makes DIY tax prep quick and easy. Our software is tailor-made for international students and scholars in the US, taking the stress out of filing returns. We offer different levels of service based on individual student needs, from step-by-step Federal 1040NR filing to a Live Help feature."
Taxback.com launched Sprintax in January of this year & say that the success to date has been excellent and that they can see the product growing in popularity from week to week as more and more international students based in the US learn of its existence.