If F-1 students are exempt from FICA for the first five calendar years, when does the FICA exemption expire if an F-1 student first came to the US as F-1 in 2016 and renewed their F-1 visa in 2018? They have been in the US all throughout 2021 on F-1.
AI accountant’s answer:
As an F-1 student, you're exempt from FICA taxes for the first five calendar years of your stay in the U.S. In your case, if you first came to the U.S. on an F-1 visa in 2016, your FICA exemption would have been available for the calendar years 2016, 2017, 2018, 2019, and 2020. The FICA exemption would have expired at the end of 2020, and you would no longer be exempt from FICA taxes starting in 2021, regardless of whether you renewed your F-1 visa in 2018 or not.
Correct.
Keeper’s AI Accountant V2
V2 is still a fine-tuned instance of GPT-4. Improvements over V1 include more comprehensive tax code embeddings, and a better chain-of-reasoning retrieval system.
