Income Tax Preparation & Filing in USA H1B - From India

[sunandoghosh]

Income Tax Preparation & Filing in USA H1B - From India

Hello friends and seniors,

Please advise me of a good & reliable online tax consultant who specializes in filing H1b tax returns in USA. I was in USA for 8 months in 2010. I have been recently issued W-2 faxed copy by my employer. I am presently based out of India.

I would like to file my USA tax return asap. Pls advise me of a trusted & reliable knowledgeable expert. I would not mind paying 200 to 300 dollars but want the process to be hassle free. I am completely nil in my understanding of USA taxes.

Thanks in advance for guidance and suggestions.

[sunandoghosh]

pls advise as i want to initiate the process soon.

[ams444]

200/300 Bucks is more than enough. You can get in touch with H&R Block or IBS on phone and they can guide you with further steps.

In general they charge anywhere from 80 - 200 Bucks depending on the requirements

[Nishant]

Two important parts of meeting SPT & Bank accounts in India

For those who meet 183 days in a calendar year or substantial presence test in US, there are two important aspects which are not well known which can result in substantial penalties by IRS.

1)World Income-
On 1040, world income including interest earned in Bank accounts in India needs to be declared.

2)Foreign bank account declaration-
If during tax year, total of all bank accounts in India including savings, checking, fixed deposits, PPF etc exceeds US $ 10,000 which is not a large amount now, EVERY bank account detail needs to be informed to US Treasury using TD F90-22 form EVERY year.

[sunandoghosh]

thanks for the excellent input....the second part is scary though