Tariffs

U.S. tax residents of Indian origin must report all global income, including rental earnings and capital gains from abroad. Failure to disclose foreign bank accounts (FBAR) or investments in foreign mutual funds (PFIC) can lead to significant penalties. This article outlines the specific forms and deadlines required for 2026 tax filings regarding assets in India, Dubai, and beyond.

The tariffs can disrupt supply chains, hurt U.S. workers, raise consumer prices, and weaken U.S.–India economic and security ties, which could affect the cost of everyday goods for Indian professionals and NRIs in the U.S.

The Nov. 28–Dec. 1 holiday shopping period brings immigrants face-to-face with U.S. sales tax—commonly 6%–10%. Refunds are rare; online sales are taxed by delivery address. Save receipts for business deductions and verify local rates and return rules before major purchases.

These visa restrictions and travel bans are causing major problems for international business in the United States as of August 2025, making it harder for companies to bring in workers, hold meetings, and keep global projects on track.

The tax means increased costs, extra paperwork, delays, and uncertainty in financial planning for these individuals.