U.S.-India Tax Planning: Reporting Issues, Traps to Avoid, Tax Treaties, FTC, FATCA/FBAR Reporting, Passive Income
Recording of a 90-minute premium CLE/CPE video webinar with Q&A
This CLE/CPE course will provide tax counsel and advisers with a thorough and practical guide into the tax reporting requirements and planning opportunities for U.S. taxpayers with earnings or assets in India, as well as India citizens with U.S. tax reporting obligations. The panel will discuss U.S. tax law and treaty provisions designed to avoid or mitigate double taxation, residency and expatriation rules, foreign tax credit, and reporting obligations for those filing returns in both countries.
Outline
- Identifying taxpayers with filing obligations in the U.S. and India
- Domicile and residency rules
- Passive and unearned income treatment
- U.S. taxation of investment and retirement accounts
- Foreign tax credit
- FATCA and FBAR reporting
Benefits
The panel will review these and other key issues:
- Filing obligations in the U.S. and India for certain taxpayers
- Taxable income, reportable accounts, and FBAR/FATCA filings
- U.S. reporting requirements of India-sourced investments
- Foreign tax credit considering the fiscal year ITR
- Key risks and challenges of passive/unearned income in cross-border situations
- U.S. reporting requirements of India-sourced investments
Faculty
Sanjay Gupta, CPA, FCA
Managing Partner
Sanjay Gupta & Associates
Mr. Gupta is a certified public accountant with more than 30 years of experience in public accounting. He specializes... | Read More
Mr. Gupta is a certified public accountant with more than 30 years of experience in public accounting. He specializes in a wide variety of accounting and tax services to help individual and business clients from different industries, including individual and business tax returns and domestic and international tax. He assists multinational companies and clients set up their U.S. offices, advises on corporate structuring, and manages their U.S. office tax and accounting for foreign tax compliance. In addition, he serves on various Non-Profit Organizations Board as President/Committee Chair. He is a founding Diwali Committee Chair and Former President of the IRCC (An Indian Cultural Organization), Chief Operating Officer (COO) of Indian Physicians of South Florida, Member of the FICPA International Tax Committee, and founding leader of the Indian Institute Chartered Accounts of India (ICAI) of Florida Representative Office.
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Parag P. Patel, Esq.
Attorney
Patel Law Offices
Mr. Patel’s practice concentrates on tax, international tax planning, estate planning, and elder law. His focus... | Read More
Mr. Patel’s practice concentrates on tax, international tax planning, estate planning, and elder law. His focus is on all tax matters including international tax law, foreign bank account disclosures, tax audit defense, and tax appeals. He has advocated over one hundred voluntary tax disclosures for assets before the US Internal Revenue Service. He is a frequent speaker and writer on legal issues affecting tax, foreign account planning, and estate planning.
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Darko Naumoski, CPA
Principal
WilkinGuttenplan CPAs & Advisors
Mr. Naumoski, joined the firm in 2017, specializes in international taxation and planning strategies.... | Read More
Mr. Naumoski, joined the firm in 2017, specializes in international taxation and planning strategies. Darko’s tax practice is consumed by international tax matters including U.S. tax aspects of international business such as foreign businesses doing work in the U.S. and U.S. businesses doing work abroad. He assists mid-market multinational clients to create and implement tax structures to minimize worldwide tax which are operationally practical. For foreign-based businesses, Darko and his team are often the first point of contact to steer clients through the different hurdles of doing business in the US giving these clients peace of mind that their businesses are tax compliant in the U.S.
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