Taxes
Tax filing requirements for immigrants, visa holders, expats, and NRIs. Covers 2026 brackets, treaty benefits, FBAR and FATCA compliance, ITIN applications, and state tax obligations for non-residents.
IRS May Owe Refunds for Coronavirus Fines. Taxpayer Wins in Kwong V. United States
The IRS deadline to claim refunds for pandemic-era late filing penalties is July 10, 2026. Taxpayers must mail Form 843 to recover money or abate current debt.
U.S. Homeland Security Reviews 10 Countries, Including UAE, Where Crypto Gains Stay Tax-Free
USCIS and DHS tighten 2026 scrutiny on crypto profits in immigration cases, requiring full documentation despite zero-tax policies…
Labor Targets Negative Gearing and CGT Discount on First Investment Property
Labor confirms July 2025 overhaul of negative gearing and CGT discounts, protecting only first investment properties while sparking…
₹12 Lakh Section 87A Rebate Doesn’t Shield Jewellery Long-Term Capital Gains
Clarifying India's 2026 tax rules: Jewellery LTCG follows the ₹4 lakh exemption limit, not the ₹12 lakh rebate…
LLC Members and Foreign Investors Must Track Outside Basis with Recourse and Nonrecourse Debt
Outside basis determines if partnership losses are deductible and if distributions are taxable, fluctuating based on income, contributions,…
Form 121 Replaces Forms 15G and 15H for TDS Declarations at Post Offices
India replaces Forms 15G/15H with Form 121 starting April 2026 to prevent TDS on interest income for residents…
Companies and Co-Ops Keep Normal Depreciation Under Concessional Tax Regimes. But Lose Additional
Indian companies must choose between lower tax rates and additional depreciation incentives under sections 115BAA, 115BAB, and 115BAD…
U.S. Tax Compliance Hits 85% Voluntary Rate with Third-Party Reporting and Pre-Filled Returns
A comparison of U.S. and India tax compliance in 2026, highlighting how formal employment and digital reporting tools…
New York Supreme Court Narrows Public Law 86-272 Shield for Online Sellers
New York courts uphold regulations taxing out-of-state online sellers for interactive website features, while blocking retroactive enforcement prior…
Ohio Scholarship Group Launches Federal Tax Credit Program for Private School Aid
Ohio has yet to opt into the new $1,700 federal private school scholarship tax credit program starting in…