Taxes
Latest in Taxes
Child Tax Credit 2026: Families get $2,200 per qualifying child
For 2026 the Child Tax Credit is $2,200 per qualifying child, with up to $1,700 refundable. Phaseouts begin at $200,000…
2026 Tax Brackets Updated: How Inflation Adjustments Affect Your Bill
The IRS updated 2026 tax brackets and standard deductions for returns filed in 2027, keeping rates (10%–37%) but raising dollar…
Understanding Indian Tax Residency for Returning H-1B Professionals
A Reddit post from an Indian H-1B worker with an approved I-140 sparked debate about staying in the U.S. or…
ESOPs vs RSUs: Taxation for Indians returning from abroad
ESOPs trigger salary tax at exercise (FMV minus exercise price) and capital gains at sale; RSUs trigger salary tax at…
FBAR Filing Essentials: Form 114 Due April 15 with 6-Month Extension
U.S. persons with foreign accounts over $10,000 must file FBAR (FinCEN Form 114). For 2025 (2024 accounts) the deadline is…
FATCA Essentials: Form 8938 thresholds and foreign asset reporting
IRS deadlines require FFIs to certify FATCA compliance by July 1, 2025 for the 2024 period. Taxpayers must use Schedule…
NRAs Deductions: No Standard Deduction Except Indian Treaty
Nonresident aliens generally cannot take the standard deduction and must itemize U.S.-connected expenses on Schedule A (Form 1040-NR). Allowed deductions…
Nonresident Filing Status for 1040-NR: Single, MFS, QSS
Nonresident aliens filing Form 1040-NR cannot file jointly or as head of household; they must use Single, MFS, or QSS.…