Category: USA Tax
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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
Lot of times US based NRIs who have investments in India need to claim the benefits of Indi -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 tax paid in USA in their…
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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…