Guides on U.S. Tax Filing

New Tax Reforms Under U.S. Tax Law

Tax reform is the change in the way taxes are managed or collected by the government and is usually undertaken to improve tax administration.

SALT Deduction under U.S. Tax Law

State and Law Tax (SALT) deduction, a federal tax law, caps itemized state and law tax deductions for all the filers, which will be discussed in this guide.

Tax Cuts And Jobs Act

The Tax reform has introduced new limits to the various deductions and has also introduced new credits along with phase out limits including tax cuts and jobs act.

Child Tax Credit

Child Tax Credit is a tax credit which helps in minimizing your tax liability. In this guide by H&R Block India, you can learn everything about child tax credit.

Decoding Form 1040 – U.S. Expat Taxes

If you are an American citizen living abroad and want to report your Income on your U.S. expat taxes you will need to file Form 1040. H&R Block India can help you understand Form 1040.

Withdrawal of 401(k) or Traditional IRA

The tax saved while saving your 401(k) funds attract tax at the time of withdrawal. Read this guide by to know about withdrawal of 401(k) or Traditional IRA.

Cashing Out 401k – Early Withdrawal Rules and Penalties

Sound financial planning is saving for your retirement so that you can continue to enjoy the same lifestyle. However, sometimes we need to withdraw the funds from our 401k or IRA due to life circumstances. Read this guide by H&R Block to know the consequences of early encashment of 401k or traditional IRA.

IRS Gift Tax Rate – Limit & Exclusion

Gifting your family comes with tax benefits. There are annual and lifetime exemption limits that can be availed so that the gifts given are not liable to tax. Read this guide by H&R Block India to know more about the applicability of U.S. gift tax laws.

Renouncing US Citizenship or Surrender of Green Card

To escape the burden of complying to tax laws of two countries, many US citizens and green holders residing in foreign countries, renounce their citizenship and surrender their green cards. However, this is a complicated process, which requires careful planning, which will be discussed in this guide.

Tax Bill 2018 – Recent Changes That Will Impact You

Every year changes are made to tax laws and introduced to the public. Recently changes were announced to the US tax bill of 2018, previously known as the Tax Cuts and Jobs Act. Read this guide by H&R Block India to know more about the changes.

IRS Foreign Tax Credit for Individuals

Foreign Tax Credit is a provision made available to ensure there is no double taxation. US expats and American Indians who are liable to pay US taxes on their foreign earned income can avail this provision. Read this guide by H&R Block India for further explanation.

Form 8938 vs FBAR – Understanding the Difference

For U.S. taxpayers having assets and bank accounts in foreign countries, form 8938 and FBAR need to be filed with his/her annual tax return. Read this guide by H&R Block India to know about the key differences between these two forms.

Foreign Earned Income Exclusion (FEIE)

For US citizens and green holders living and working abroad, different tax laws are applicable, which must be followed to avoid penalties. Read this guide on FEIE to know about the deductions available under this provision.

Why Should I File Form 8938?

For US residents or citizens who hold financial assets abroad, they must ensure it is reported along with their annual US tax return. Read this guide on the filing of form 8938 by H&R Block India.

Tax Provisions for NRIs under section 115H

Non-Resident Indian (NRI) earns income in India will be taxable where the tax rates are different from that of regular residents. Read this guide by H&R Block to learn more about the provisions under section 115H.

FBAR – Foreign Bank Account Reporting

Many Indian Americans are unaware of the need to report their foreign bank account details with the filing of the US income tax. Read this guide to know more about filing FBAR.

FATCA – Foreign Account Tax Compliance Act

If you are a U.S. person maintaining a foreign bank account, you may receive a FATCA notice from the IRS. Find out the reasons contributing to FATCA notice, the implications of the notice and how you can respond to such notice by reading this guide by H&R Block.

Benefits of Filing U.S. Taxes

If you are an U.S Expat working in India or an NRI working in U.S, you must know the advantages of filing your U.S taxes. H&R Block has listed all the benefits for you.

Documents Needed for U.S. Tax Filing

Read this detailed tax document checklist and keep it handy before you start filing your U.S Tax Returns. H&R Block also offers US Tax Filing Services in India.

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