Category: USA Tax
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Gift City Investments by US returnees – US/India Tax & FEMA implications
Last updated – December 31, 2025 US NRIs who are non-citizens non-domiciliary of US and plan to return to India and have significant investments back in the US and don’t want to move everything to India in INR suffer from the risk of estate tax on their US investments – basically their US-situs investments >…
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Tax Provisions in the One Big Beautiful Bill Act, 2025: A Guide for US-based NRIs
Introduction On July 4, 2025, Congress enacted the One Big Beautiful Bill Act (OBBBA), representing the most comprehensive individual tax overhaul since the 2017 Tax Cuts and Jobs Act. While many headlines focused on corporate and energy incentives, OBBBA also cements key tax rates, preserves popular deductions, and introduces an array of new benefits—both permanent and time‑limited.…
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FIRE Strategy by US-based NRIs planning to Return to India – Tax/FEMA considerations
Hello, and welcome. This is Abhinav. And in this video, I’m covering some, tax considerations for people who are based in US, Indian expats based in US, and who, follow the fire strategy, financial independence retire early. So, basically, it’s a strategy where, a person wants to save and invest aggressively so that, he, you…
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USA Tax Compliances & Implications for surrender of US Citizenship/Green Card
In this post, I am discussing the USA Tax Implications & Compliances for surrender of US Citizenship/Green Card. This will be helpful for those Indians who return from USA and want to settle down permanently in India. Note – Content in this post contains an extract of main IRS tax guidance on this topic. For…
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How to obtain a Tax Residency Certificate in USA
Last Updated – October 11, 2025 Lot of times US based NRIs who have investments in India need to claim the benefits of India -USA DTAA in the form of reduced/nil rate of tax deducted at source by payers on their incomes in India (e.g. NRO bank deposits) or need to claim the credit of…
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Passive Foreign Investment Company (PFIC) Regulations in US & Tax Implications for Indian expats
Last updated on – Nov 7, 2024 US has a draconian tax provision for Passive Foreign Investment Corporation (PFIC) which makes it unwise for a US person (Citizen/GC/Resident) to invest in any non-US pooled investments. Lot of non-US persons who are unaware of these rules end up moving to US & getting trapped in these…
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IRS Foreign Bank Account Reporting (FBAR) by US-based NRI
In this earlier post, we have discussed about FATCA and CRS and why US NRI need not fear these new developments as long they are assessing their tax residency properly, offering full income in their tax returns and filing proper reports with the IRS. Speaking of reports, there are two main reports that a US…
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How to calculate Residential Status for tax purposes in USA
Given the increase in global mobility of employees, tax consultants come across clients who are citizen /resident of another country or even multiple countries. Situation can become complicated when multiple countries have overlapping tax residency rules resulting in double taxation on the same income. A prime example of such cases is a country like USA…