Category: US Citizen/GC Holders
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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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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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Should I retain my US citizenship/ Green Card on Return to India?
For families who have stayed back in the USA for a considerable time and obtained a US citizenship (USC) or a green card (GC), and now returning back to India for a better career opportunity, or taking care of parents or with an intent to retire back in India, a top of the mind question…