Would reporting it as taxable when it could be exempt cause any issues with visa status or future immigration applications? I've always heard we should be very careful about tax compliance with student visas.

Reporting potentially exempt income as taxable generally won't cause any immigration issues. Immigration authorities are primarily concerned with tax compliance (that you filed when required), not whether you paid slightly more tax than necessary. In fact, it's often considered safer from an immigration perspective to pay tax when in doubt rather than claiming exemptions incorrectly. The risk would be in the other direction - claiming exemptions you're not entitled to could potentially be viewed as tax avoidance. So if you're uncertain and the amounts are small, paying the tax is usually the safest approach.

You need to file both forms. Form 8843 is required for all F-1 students to document your presence in the US and your exempt status, even if you have no income. Form 1040-NR is the actual tax return you file to report income and calculate any tax owed. So in your case with 1042-S income, you'd file both the 8843 and the 1040-NR. They serve different purposes but are both part of your complete tax filing as an F-1 student.

We got married on December 18th. So based on what others have said, I guess that means I'm considered married for the entire 2024 tax year since we were married on December 31st? Even if she's still in the Philippines?

Yep, December 18th means you're definitely considered married for the entire 2024 tax year. The IRS only cares about your status on December 31st - whether you were married for 11 months or 2 weeks doesn't matter for determining filing status. And yes, this applies even though your wife is still in the Philippines. Her physical location doesn't change your marital status for tax purposes. The more important question will be whether she's a US resident for tax purposes (probably not yet) and whether she has a SSN or ITIN for filing.

You don't need your spouse to be physically present in the US to get an ITIN. When I got one for my wife (from Vietnam), I submitted Form W-7 along with our tax return and certified copies of her passport. You can also use a Certified Acceptance Agent who can verify the documents without sending originals. The whole process took about 8 weeks for us.

What's the time limit for amending previous returns to claim those foreign tax credits? I haven't been claiming mine for years but pay a lot of tax in my country of residence.

You generally have 3 years from the original filing deadline to amend a return and claim a refund. So for 2022 taxes (which were due April 2023), you have until April 2026 to amend and claim those foreign tax credits. If you've been missing out on foreign tax credits for multiple years, you could potentially amend returns going back three years. This can be especially valuable if you're paying higher tax rates in your country of residence than you would in the US. Many expats don't realize they're leaving money on the table by not claiming these credits!

You're totally fine! Using the standard deduction has no impact on your ability to use Form 2555 in future years. They're completely separate parts of your tax return. I've switched back and forth between years with and without Form 2555 while taking the standard deduction each time.

19 For actual income or deduction changes, you would need to file an amended return using Form 1040-X. Unlike the 1095-C situation, missing investment income absolutely needs to be reported through an amendment. You can prepare an amended return through most tax software, though some charge extra for this service. File it as soon as you can to minimize any potential interest or penalties. If you owe additional tax, pay it when you file the amendment to stop further interest from accruing.

11 I used eztaxreturn for an amendment last year. It's doable but not as streamlined as their regular filing process. You have to essentially recreate your return and then identify what changed. They charge an additional fee too (I think it was around $30 when I did it). But in this case, since the 1095-C doesn't change anything tax-wise, you shouldn't need to amend at all.

Do you withhold taxes from their paychecks or is there some exemption since they probably don't make enough to owe taxes anyway?

We do withhold federal income tax as normal, but they both typically get it all refunded when they file their returns since they earn under the standard deduction. For FICA taxes (Social Security and Medicare), there's an exemption for children under 18 working in a parent's business if it's a sole proprietorship or a partnership owned only by the parents. Since our restaurant is set up that way, we don't have to withhold FICA taxes from their wages, which saves everyone money. If your business is incorporated, different rules apply and you would need to withhold FICA.

There's no minimum age requirement in federal law for working in a parent's business (though state laws may vary). But what matters is whether the work and pay are reasonable. A 9-year-old stuffing envelopes occasionally should be paid what you'd pay any kid that age for that task - not an adult wage.