TAX help for US taxes with knowledge of Indian tax in San jose area, CA

kapiltj · Post by **kapiltj** » Mon Dec 18, 2017 1:55 am

Hi,
I R2ied in 2008 and R2Aed in 2015. I got my GC in 2016. I am yet to file my 2016 taxes and am looking for some knowledgeable tax professional who can help.
I have MF, stock, LIC etc investments in India. I have rental income.
I also have an HUF, EPF. So would like someone who can
1. Help with calculating the right taxes (not overpay while still minimizing any risk of audits etc)
2. Help with streamlining these assuming I am still not sure if I will remain a US resident or move back to India at some point.
Any recommendations welcome.

Also, looks like I should have filed FBAR/FATCA for 2016 also given I became a resident then and have not filed it yet. My financials are all over the place so how can I avoid the penalty?

thanks
kapil

kumar1801 · Post by **kumar1801** » Wed Dec 27, 2017 10:00 am

Since you have not filed your 2016 taxes and keeping your above questions, I would recommend you consult with a solid CPA or take some attorneys advice. My 2 cents, peace of mind is more important and also helps with long term planning than trying to do work arounds.
If you google "DESI FBAR/FATCA", you will find some blogs and other relevant info. Consult a couple of them and then take advice.

I would not panic as there is a solution for everything with least impact.