It seems like most people in tech are not reporting their foreign income, and not reporting FBAR/FATCA. Am I an idiot for paying my fair share? Edit: Indians and Chinese not reporting foreign income from foreign savings, real estate and brokerages.
Lol. Clickbait headline for the day. 😂
How?
There is a better way to structure your headline if you really want a conversation.
And you know about all - how?
Like who ? Chinese ? Pakistani? Indian Which people ?
Indians and Chinese
Hah!! False!! Under working Visa it's all taxable. You are considered a resident for tax purposes. Fix it now or prepare for green card rejection and/or a hefty IRS fine in the mail one day. Also FBAR/FACTA has nothing to do with taxes. Get your facts straight and fix your taxes right away!
Read the second sentence I wrote. H1B = non US resident for immigration. H1B = US resident for Tax purposes (barring the first year in certain cases under substantial presence test). Please take that "Genius" attitude and do some googling yourself.
Full of loopholes for a reason...
Ok Indians have it in their genes and culture to cheat on taxes. Common fellow Desi's, admit it
If on H1B you could make excuses till you get a GC but after that don’t even think about it as they will take it all away and jail you for Tax Fraud Ideally file everything diligently
Even on H1B you can't make excuses. Ignorance is not an excuse. Also GC might be jeopardized if it comes out anytime before or during interview.
Good luck trying to repatriate your foreign assets someday. IRS will have a huge question on where this asset is coming from, how long you've had it etc. Death and taxes, my man. The IRS *will* catch you.
The basis of your assumption? Also, What sort of foreign income? I hate it when people are lazy and don’t add additional details to their question
Real estate, savings accounts, brokerages.