hinvin66
05-05 04:44 PM
Rental income, stock dividends and interest are allowed under passive income. Passive income is allowed for H1-B (I had/have a rental property in a different state in the US, while I was still on H1B. It's a different matter that I am an EAD now...)
Please check if selling intellectual property (i.e., "Apps") on a website is a classified as a passive or an active income. I am strongly inclined to believe that it is a passive income as you are NOT doing the work of selling stuff (for example, if you sold stuff on eBay, that is passive income). Please check with an immigration attorney AND a CPA about the classification of active vs. passive incomes as it relates to web based businesses.
If it's confirmed to be passive - go ahead and make money.
Please check if selling intellectual property (i.e., "Apps") on a website is a classified as a passive or an active income. I am strongly inclined to believe that it is a passive income as you are NOT doing the work of selling stuff (for example, if you sold stuff on eBay, that is passive income). Please check with an immigration attorney AND a CPA about the classification of active vs. passive incomes as it relates to web based businesses.
If it's confirmed to be passive - go ahead and make money.
pkv
06-07 01:59 PM
is there nobody with info/experience on this????
pappu
09-01 09:17 AM
I am in the process of changing job. The new employer is saying that I can start working with them from the very next day, after they file H1B transfer application. ie I don't have to wait for the receipt. Is this true? They are asking me to give 2 weeks notice immediately so that by the time they file H1B, 2 weeks will get over, and I can start there immediately.
Please reply its kind of urgent for me.
Thanks.
yes you can start working when the application is filed. If you have time then i'd prefer you wait for the reciept notice confirming your application has reached and then switch jobs.
Please reply its kind of urgent for me.
Thanks.
yes you can start working when the application is filed. If you have time then i'd prefer you wait for the reciept notice confirming your application has reached and then switch jobs.
Marphad
11-19 07:57 AM
I-485
TSC --- June 27, 2007
NSC --- July 05, 2007
:mad:
Does this make a difference when retrogression is not moving?
TSC --- June 27, 2007
NSC --- July 05, 2007
:mad:
Does this make a difference when retrogression is not moving?
more...
anilsal
12-10 12:28 PM
They are all in Valley lake dr in schaumburg... Devon Ave in downtown.. just kidding. 50% of people who live in valley lake dr (apt community) is H1b folks working for SBC/Motorola.
Totally agree. Motorola does not have a mailing list. They depend on their company attorney for information. I cannot get them appraised of IV (or may be they know, visit the forums and do not care). Maybe it may be worthwhile to post something in the offices of the apartment complex(es), provided they agree to it.
Totally agree. Motorola does not have a mailing list. They depend on their company attorney for information. I cannot get them appraised of IV (or may be they know, visit the forums and do not care). Maybe it may be worthwhile to post something in the offices of the apartment complex(es), provided they agree to it.
fatjoe
10-25 09:03 AM
Krustycat:
Sorry to hear that it doesn't work for you. I didn't get any rec #. Excatly the 90th day of my 485 filing, I called USCIS. I wouldn't have called if I had my Rec #. Like said before, one lady picked up and was very cordial and created a Service Req for me. I guess it also could be based on the person with whom you talk. I said " It has been 90 days since I filed my 485 at NSC, I didn't get the Rec # and the checks are not cleared yet also" She asked for the excat date. I told "July 18". She said, "Sorry about the incovenience". She asked for my zip code. Then she said " This is the first time I am using the Service Request System", so bear with me. She asked for my name and date of birth and address and phone. She said "An agent will be assigned to your case within two days to look for your application. The agent will contact you thro phone or you will get a mail". I asked her what can I do if my checks are not cleared. She said "Wait for a week, and then call us". My checks got cleared in two days , but the Rec # are not available on line.
Sorry to hear that it doesn't work for you. I didn't get any rec #. Excatly the 90th day of my 485 filing, I called USCIS. I wouldn't have called if I had my Rec #. Like said before, one lady picked up and was very cordial and created a Service Req for me. I guess it also could be based on the person with whom you talk. I said " It has been 90 days since I filed my 485 at NSC, I didn't get the Rec # and the checks are not cleared yet also" She asked for the excat date. I told "July 18". She said, "Sorry about the incovenience". She asked for my zip code. Then she said " This is the first time I am using the Service Request System", so bear with me. She asked for my name and date of birth and address and phone. She said "An agent will be assigned to your case within two days to look for your application. The agent will contact you thro phone or you will get a mail". I asked her what can I do if my checks are not cleared. She said "Wait for a week, and then call us". My checks got cleared in two days , but the Rec # are not available on line.
more...
chanduv23
10-09 06:54 AM
We have some excellent volunteers from Long Island and we would want more activity from this area.
Please volunteer for local meetings. PM me if you are interested, I will drive over to your place if we can gather enough crowd and do a meeting
Please volunteer for local meetings. PM me if you are interested, I will drive over to your place if we can gather enough crowd and do a meeting
muthukmk
08-03 07:24 PM
Hi experts,
Can someone help me in this regards. Awaiting eagerly for ur expert comments.
Regards
Can someone help me in this regards. Awaiting eagerly for ur expert comments.
Regards
more...
gsc999
08-07 03:05 PM
Hi,
I need some info. about whether it is good idea to do Canadian PR Landing and H1B extension stamping in one visit to Canada?
Here is the situation:
------------------
Your help will be greatly appreciated
Thanks
--
Yes, I just spoke with another IV member who is in your situation and he is visting Canada later this month to take care of this issue
I need some info. about whether it is good idea to do Canadian PR Landing and H1B extension stamping in one visit to Canada?
Here is the situation:
------------------
Your help will be greatly appreciated
Thanks
--
Yes, I just spoke with another IV member who is in your situation and he is visting Canada later this month to take care of this issue
485Question
09-17 04:02 PM
:)
more...
coopheal
12-01 07:20 PM
Contributed $100 for Dec.
Transaction ID: 8P72***********
Transaction ID: 8P72***********
zuhail
05-28 10:33 AM
All Employment-Based I-485 Inventory pending at the Service Centers as of March 08,2010.
http://www.uscis.gov/USCIS/Green%20Card/Green%20Card%20Through%20a%20Job/Employment%20Based%20I-485%20Pending%20Inventory-Total%203-8-2010.pdf
From Murthy Law Firm : U.S. Immigration Law (http://www.murthy.com)
1. USCIS Update on Pending Employment-Based I-485s
�MurthyDotCom
The U.S. Citizenship and Immigration Services (USCIS) has updated charts of pending employment-based (EB) adjustment of status (I-485) cases. These charts provide precise details of the numbers of I-485 cases currently filed and pending with the USCIS by year and month of priority date, and country of chargeability. They provide a helpful picture of the pending demand for the limited immigrant visa numbers in each EB category. They also can be compared to earlier charts to gain insights into visa number usage.
�MurthyDotCom
Background on USCIS Charts on EB I-485s
�MurthyDotCom
The USCIS started providing the pending EB I-485 charts after the overhaul of the USCIS WebSite. The first set of these charts was reported to MurthyDotCom and MurthyBulletin readers in our article, USCIS Shares Useful Info in Pending I-485 Charts (30.Oct.2009). As before, there are six separate charts with details of pending EB I-485 cases.
�MurthyDotCom
Current USCIS I-485 Charts and Usage of Immigrant Visas
�MurthyDotCom
The most recent charts (PDF 450KB), with data as of March 8, 2010, are available on the USCIS WebSite. The real insight that can be gleaned from these charts relates to the demand for immigrant visa numbers. In order for an I-485 to be approved, and for an applicant to become a permanent resident, there must be an immigrant visa number available. The immigrant visa numbers represent the annual limit on the number of foreign nationals permitted to become U.S. permanent residents in each fiscal year.
�MurthyDotCom
Visa number availability is reflected in the U.S. Department of State (DOS) Visa Bulletin issued each month. The Visa Bulletin cutoff dates are established by the DOS based upon estimates of demand for immigrant visa numbers.
�MurthyDotCom
The USCIS charts provide a picture of that demand and, for some, a clearer explanation of why the cutoff dates in the Visa Bulletin move so slowly or stagnate. MurthyDotCom and MurthyBulletin readers who are unfamiliar with the concept of priority dates, visa numbers, and the Visa Bulletin may find some of the articles on these topics helpful. They are posted regularly on MurthyDotCom, and available by using our search feature.
�MurthyDotCom
EB2 Analysis and Backlogs for India and China
�MurthyDotCom
In the EB2 category, historically, only India and China regularly experience cutoff dates in the Visa Bulletin. This is reflected in the volume of pending cases in EB2 for all countries other than India and China. There are enough visa numbers available to meet demand and, thus, there is not a large volume of pending cases. These cases can be routinely processed without delays due to visa number issues. Thus, there are only slightly more than 3,300 EB2 I-485s from countries other than India, China, Mexico, and the Philippines. Most of these cases have priority dates between 2005 to 2010.
�MurthyDotCom
This contrasts sharply with the volume of cases pending in EB2 for nationals of India and China. China has 16,630 pending EB2 cases, most having priority dates between 2005 and 2007. India has more than twice as many as China, with slightly more than 39,000 cases pending. Of these, most have priority dates that fall between 2005 and 2007.
�MurthyDotCom
When the current pending cases for EB2 India are compared to the chart provided in our October 2009 article, there is a noticeable change. The older charts show more than 6,000 pending EB2 India cases with priority dates in 2004. The newer charts reflect only about 300 such cases, and fewer than 300 with priority dates of earlier than 2004.
�MurthyDotCom
Thousands of LC Filings in March 2005
The Visa Bulletin cutoff date for EB2 India has been stagnant for four months as of this writing, with a cutoff date of February 1, 2005. The likelihood of forward movement increases, as the cases with earlier priority dates are processed to completion. However, one important reason for the stagnation in February becomes evident when reviewing the number of pending cases with a March 2005 priority date. The chart reflects more than 3,000 cases pending in EB2 India, with a March 2005 priority date. This is due to a large volume of labor certification cases filed prior to the shift to the mandatory PERM process in labor certification procedures, which occurred at the end of March 2005.
�MurthyDotCom
EB3 Analysis and Maximum Pending EB3s for Indians
�MurthyDotCom
The EB3 category has a demand for visa numbers that exceeds the supply for all countries of chargeability. The USCIS reports that, as of March 8, 2010, there were almost 136,000 pending EB3 I-485s. The vast majority - almost 60,000 - were filed by Indian nationals.
�MurthyDotCom
There continues to be a large number of EB3 cases with priority dates as early as 2001 and 2002. There are even larger numbers of pending cases with priority dates between 2003 and 2007. When compared to the charts from our October 2009 article, there is a noticeable reduction - over 5,000 - in the number of cases with 2001 priority dates.
�MurthyDotCom
Conclusion
�MurthyDotCom
These USCIS charts provide, for some, a rather grim picture of the wait time for visa numbers in their categories. For others, it may offer some hope that they are likely to be next in line. We believe that it is helpful to have a realistic picture and an understanding of why certain cases must wait for years for the I-485 approval under the current system. We appreciate the willingness of the USCIS to share these helpful updates so that individuals and their families can plan their lives.
�MurthyDotCom
Copyright � 2010, MURTHY LAW FIRM. All Rights Reserved
http://www.uscis.gov/USCIS/Green%20Card/Green%20Card%20Through%20a%20Job/Employment%20Based%20I-485%20Pending%20Inventory-Total%203-8-2010.pdf
From Murthy Law Firm : U.S. Immigration Law (http://www.murthy.com)
1. USCIS Update on Pending Employment-Based I-485s
�MurthyDotCom
The U.S. Citizenship and Immigration Services (USCIS) has updated charts of pending employment-based (EB) adjustment of status (I-485) cases. These charts provide precise details of the numbers of I-485 cases currently filed and pending with the USCIS by year and month of priority date, and country of chargeability. They provide a helpful picture of the pending demand for the limited immigrant visa numbers in each EB category. They also can be compared to earlier charts to gain insights into visa number usage.
�MurthyDotCom
Background on USCIS Charts on EB I-485s
�MurthyDotCom
The USCIS started providing the pending EB I-485 charts after the overhaul of the USCIS WebSite. The first set of these charts was reported to MurthyDotCom and MurthyBulletin readers in our article, USCIS Shares Useful Info in Pending I-485 Charts (30.Oct.2009). As before, there are six separate charts with details of pending EB I-485 cases.
�MurthyDotCom
Current USCIS I-485 Charts and Usage of Immigrant Visas
�MurthyDotCom
The most recent charts (PDF 450KB), with data as of March 8, 2010, are available on the USCIS WebSite. The real insight that can be gleaned from these charts relates to the demand for immigrant visa numbers. In order for an I-485 to be approved, and for an applicant to become a permanent resident, there must be an immigrant visa number available. The immigrant visa numbers represent the annual limit on the number of foreign nationals permitted to become U.S. permanent residents in each fiscal year.
�MurthyDotCom
Visa number availability is reflected in the U.S. Department of State (DOS) Visa Bulletin issued each month. The Visa Bulletin cutoff dates are established by the DOS based upon estimates of demand for immigrant visa numbers.
�MurthyDotCom
The USCIS charts provide a picture of that demand and, for some, a clearer explanation of why the cutoff dates in the Visa Bulletin move so slowly or stagnate. MurthyDotCom and MurthyBulletin readers who are unfamiliar with the concept of priority dates, visa numbers, and the Visa Bulletin may find some of the articles on these topics helpful. They are posted regularly on MurthyDotCom, and available by using our search feature.
�MurthyDotCom
EB2 Analysis and Backlogs for India and China
�MurthyDotCom
In the EB2 category, historically, only India and China regularly experience cutoff dates in the Visa Bulletin. This is reflected in the volume of pending cases in EB2 for all countries other than India and China. There are enough visa numbers available to meet demand and, thus, there is not a large volume of pending cases. These cases can be routinely processed without delays due to visa number issues. Thus, there are only slightly more than 3,300 EB2 I-485s from countries other than India, China, Mexico, and the Philippines. Most of these cases have priority dates between 2005 to 2010.
�MurthyDotCom
This contrasts sharply with the volume of cases pending in EB2 for nationals of India and China. China has 16,630 pending EB2 cases, most having priority dates between 2005 and 2007. India has more than twice as many as China, with slightly more than 39,000 cases pending. Of these, most have priority dates that fall between 2005 and 2007.
�MurthyDotCom
When the current pending cases for EB2 India are compared to the chart provided in our October 2009 article, there is a noticeable change. The older charts show more than 6,000 pending EB2 India cases with priority dates in 2004. The newer charts reflect only about 300 such cases, and fewer than 300 with priority dates of earlier than 2004.
�MurthyDotCom
Thousands of LC Filings in March 2005
The Visa Bulletin cutoff date for EB2 India has been stagnant for four months as of this writing, with a cutoff date of February 1, 2005. The likelihood of forward movement increases, as the cases with earlier priority dates are processed to completion. However, one important reason for the stagnation in February becomes evident when reviewing the number of pending cases with a March 2005 priority date. The chart reflects more than 3,000 cases pending in EB2 India, with a March 2005 priority date. This is due to a large volume of labor certification cases filed prior to the shift to the mandatory PERM process in labor certification procedures, which occurred at the end of March 2005.
�MurthyDotCom
EB3 Analysis and Maximum Pending EB3s for Indians
�MurthyDotCom
The EB3 category has a demand for visa numbers that exceeds the supply for all countries of chargeability. The USCIS reports that, as of March 8, 2010, there were almost 136,000 pending EB3 I-485s. The vast majority - almost 60,000 - were filed by Indian nationals.
�MurthyDotCom
There continues to be a large number of EB3 cases with priority dates as early as 2001 and 2002. There are even larger numbers of pending cases with priority dates between 2003 and 2007. When compared to the charts from our October 2009 article, there is a noticeable reduction - over 5,000 - in the number of cases with 2001 priority dates.
�MurthyDotCom
Conclusion
�MurthyDotCom
These USCIS charts provide, for some, a rather grim picture of the wait time for visa numbers in their categories. For others, it may offer some hope that they are likely to be next in line. We believe that it is helpful to have a realistic picture and an understanding of why certain cases must wait for years for the I-485 approval under the current system. We appreciate the willingness of the USCIS to share these helpful updates so that individuals and their families can plan their lives.
�MurthyDotCom
Copyright � 2010, MURTHY LAW FIRM. All Rights Reserved
more...
getgc2008
07-30 09:17 AM
direct online filing for I485
tinamatthew
07-23 10:45 AM
If you read the rules closely, the employer is attesting to the fact that the job will be readily available at a future date. So as long as the employer issues a letter attesting to this, there is no issue. AC21 is very specific = 180 days not less. So even with a letter from the employer, IF i-485 has not been pending 180 days, you cannot induce AC21 If you do indeed move prior to the six months, make sure you amend your H1B for the necessary changes (eg location)
Confirm with the co lawyer also. Yes, you are right. Always confirm advice with a lawyer
Hope this helps
Confirm with the co lawyer also. Yes, you are right. Always confirm advice with a lawyer
Hope this helps
more...
perm2gc
08-24 10:07 AM
I worked for company A till Jun 2003 on h1 for 3 years. Then i went back to India and switched to company B. Now I'm in US on L1 thru company B. I'm thinking of switching back to company A in US. But my H1 got expired on June 2004. My question: Is it possible to renew the original H1 processed by company A now and start working for it? Please help.You said you have worked for Company A for 3yrs.in that case you H1 is arleady expired unless you have revalidated from company A.. If you have to work for Company A again you have to file a new H1B.
GCAmigo
04-30 01:44 PM
I was shocked as well, when I read about that in the other thread. Thanks for clarifying this Pappu!
shocked to learn that the wait is getting longer! now I am truly SHOCKED!
"Jo poora doob gava, usko thandee nahin laagva re!"
poorly translates to english "Does it get any colder, for one who is already drowned?"
shocked to learn that the wait is getting longer! now I am truly SHOCKED!
"Jo poora doob gava, usko thandee nahin laagva re!"
poorly translates to english "Does it get any colder, for one who is already drowned?"
more...
bestia
07-16 10:30 PM
Argument:
Due to un-availability of revised bulletin, if NSC approves i485 and issues AP and EAD, they cannot cancel it..as they have not used any visa # at this time ? Am I correct ?
If they will incorrectly approve I-485 they CAN and WILL revoke it and they have done that. I personally know people who got their GCs revoked because of USCIS mistakes (not EB though), although they didn't get in much trouble. I don't remember the web-site where I read the story. The person had his 485 approved while he wasn't current. The lawyer suggested to inform USCIS about mistaken approval, USCIS revoked the GC and when the person became current they approved his 485 again.
Due to un-availability of revised bulletin, if NSC approves i485 and issues AP and EAD, they cannot cancel it..as they have not used any visa # at this time ? Am I correct ?
If they will incorrectly approve I-485 they CAN and WILL revoke it and they have done that. I personally know people who got their GCs revoked because of USCIS mistakes (not EB though), although they didn't get in much trouble. I don't remember the web-site where I read the story. The person had his 485 approved while he wasn't current. The lawyer suggested to inform USCIS about mistaken approval, USCIS revoked the GC and when the person became current they approved his 485 again.
cdeneo
04-02 09:23 PM
I was looking for similar info -
Applying for a Canadian tourist visa with AP (no H-1), would this be a problem? Would we get the Canadian visa for only the validity of AP (one yr at most)?
I would be interested in finding out the answers to the original poster's questions as well. It would be very helpful if anyone could share their experience with this.
Applying for a Canadian tourist visa with AP (no H-1), would this be a problem? Would we get the Canadian visa for only the validity of AP (one yr at most)?
I would be interested in finding out the answers to the original poster's questions as well. It would be very helpful if anyone could share their experience with this.
virtual55
05-16 12:57 PM
I am seeing currently 700 members actively using IV website right now, but I don't think all of them have signed up for monthly contribution, Guys please contribute and help yourself
soarin3655
04-08 02:41 PM
US taxman gets after Indian-Americans - The Times of India (http://timesofindia.indiatimes.com/nri/news/US-taxman-gets-after-Indian-Americans/articleshow/7915510.cms)
US taxman gets after Indian-Americans
Chidanand Rajghatta, TNN | Apr 8, 2011, 09.40pm IST
On Thursday, the US govt filed a petition with the court to allow the IRS to serve what is known as a "John Doe" summons on HSBC Bank.
WASHINGTON: When you do a good deed, get a receipt, just in case heaven is like the IRS, goes the sagely tax advice in America. Some 9000 Indian-Americans are about to discover that tales of the dreaded Internal Revenue Service's omnipresence are not entirely exaggerated.
While millions of Americans are sweating it out to file their tax returns before the April 15 deadline, Uncle Sam's taxman has zeroed in wealthy Indian-Americans suspected of using their native land to stash away undeclared money and evade taxes. Yes; while India has long believed its wealthy has stashed away money abroad, the wheel has turned a full circle. The US now says its Indian-American citizens are using India as a tax haven.
In a surprising move that takes the American hunt for hidden money beyond the usual Swiss and Caribbean tax havens, the US Justice Department's civil tax division on Thursday asked a Federal Court's permission to force the London-based HSBC Bank to disclose names of thousands of wealthy Indian-American clients who it says maintain accounts with more than $ 100,000 in the bank's India branches -- ostensibly to hide it from the IRS taxman.
In a 47-page statement filed before a San Francisco court, the IRS said there were 9,000 US residents of Indian-origin who had $100,000-minimum-balance accounts at HSBC India but that fewer than 1,400 had disclosed existence of their accounts. US laws require citizens to disclose any foreign account containing $10,000 or more.
The US hunt for Indian-American tax evaders follows a case early this year when federal prosecutors nailed Vaibhav Dahake, a US citizen and an HSBC client for tax evasion by stashing money in India. According to documents filed with the government's petition, on Jan. 26, 2011, a grand jury in Newark, New Jersey, indicted Dahake, charging him with conspiracy to defraud the United States by using undeclared accounts in the British Virgin Islands and at HSBC India.
According to those documents, employees of HSBC Holdings plc and its affiliates operating in the United States assured Dahake that accounts maintained in India would not be reported to the IRS.
US authorities, attributing the information to HSBC's website, say that in 2002 HSBC India opened a "representative office" at an HSBC USA office in New York City to enable ''Non-Resident Indians'' (NRIs) living in the United States to open accounts in India. In 2007, HSBC India allegedly opened a second representative office at an HSBC USA office in Fremont, Calif., purportedly "to make banking transactions more convenient for the NRI community based in California." Although HSBC India closed those offices in June 2010, the government alleges that NRI clients may still access their accounts at HSBC India from the United States.
According to the petition documents, NRI clients have told IRS investigators that HSBC's NRI representatives in the United States assured them that they could invest in accounts at HSBC India without paying US income tax on interest earned on the accounts and that HSBC would not report the income earned on the HSBC India accounts to the IRS.
"The Department of Justice is committed to ensuring that all US taxpayers meet their obligations to declare and pay taxes on foreign bank accounts," John A. DiCicco, Principal Deputy Assistant Attorney General for the Justice Department's Tax Division, said in a statement. "The ability to hide accounts in foreign countries is rapidly dwindling. We will continue working hand-in-hand with the IRS to enforce the tax laws against those who are using offshore accounts � wherever they are located � to evade taxes."
The IRS focus on India and Indian-Americans follows a campaign against undeclared offshore accounts held by US taxpayers, primarily in tax havens such as Switzerland and the Caribbean. In a landmark case in 2009, the IRS went after UBS AG for allowing U.S citizens hide their assets and evade taxes. UBS coughed up $780 million in fines, and more importantly, turned over some 4000 names in a precedent-setting case.
"The IRS continues to focus its attention on international tax evasion," IRS Commissioner Douglas Shulman said on Thrusday about the HSBC India case. ''This summons request is focused on obtaining more information to help us determine if additional actions are needed. As I've said all along, our international efforts are not about just one country or one bank � it's about our wider effort to ensure compliance with the nation's tax laws."
Meanwhile, an HSBC spokesperson in New York told wire services that the bank has been engaged in a "constructive dialogue" with US authorities and hoped the issue can be resolved expeditiously. "HSBC does not condone tax evasion and fully supports the US efforts to promote appropriate payment of taxes by US taxpayers," spokeswoman Juanita Gutierrez said, adding that the bank complies with the law in all the jurisdictions and cooperates with requests from US authorities.
US taxman gets after Indian-Americans
Chidanand Rajghatta, TNN | Apr 8, 2011, 09.40pm IST
On Thursday, the US govt filed a petition with the court to allow the IRS to serve what is known as a "John Doe" summons on HSBC Bank.
WASHINGTON: When you do a good deed, get a receipt, just in case heaven is like the IRS, goes the sagely tax advice in America. Some 9000 Indian-Americans are about to discover that tales of the dreaded Internal Revenue Service's omnipresence are not entirely exaggerated.
While millions of Americans are sweating it out to file their tax returns before the April 15 deadline, Uncle Sam's taxman has zeroed in wealthy Indian-Americans suspected of using their native land to stash away undeclared money and evade taxes. Yes; while India has long believed its wealthy has stashed away money abroad, the wheel has turned a full circle. The US now says its Indian-American citizens are using India as a tax haven.
In a surprising move that takes the American hunt for hidden money beyond the usual Swiss and Caribbean tax havens, the US Justice Department's civil tax division on Thursday asked a Federal Court's permission to force the London-based HSBC Bank to disclose names of thousands of wealthy Indian-American clients who it says maintain accounts with more than $ 100,000 in the bank's India branches -- ostensibly to hide it from the IRS taxman.
In a 47-page statement filed before a San Francisco court, the IRS said there were 9,000 US residents of Indian-origin who had $100,000-minimum-balance accounts at HSBC India but that fewer than 1,400 had disclosed existence of their accounts. US laws require citizens to disclose any foreign account containing $10,000 or more.
The US hunt for Indian-American tax evaders follows a case early this year when federal prosecutors nailed Vaibhav Dahake, a US citizen and an HSBC client for tax evasion by stashing money in India. According to documents filed with the government's petition, on Jan. 26, 2011, a grand jury in Newark, New Jersey, indicted Dahake, charging him with conspiracy to defraud the United States by using undeclared accounts in the British Virgin Islands and at HSBC India.
According to those documents, employees of HSBC Holdings plc and its affiliates operating in the United States assured Dahake that accounts maintained in India would not be reported to the IRS.
US authorities, attributing the information to HSBC's website, say that in 2002 HSBC India opened a "representative office" at an HSBC USA office in New York City to enable ''Non-Resident Indians'' (NRIs) living in the United States to open accounts in India. In 2007, HSBC India allegedly opened a second representative office at an HSBC USA office in Fremont, Calif., purportedly "to make banking transactions more convenient for the NRI community based in California." Although HSBC India closed those offices in June 2010, the government alleges that NRI clients may still access their accounts at HSBC India from the United States.
According to the petition documents, NRI clients have told IRS investigators that HSBC's NRI representatives in the United States assured them that they could invest in accounts at HSBC India without paying US income tax on interest earned on the accounts and that HSBC would not report the income earned on the HSBC India accounts to the IRS.
"The Department of Justice is committed to ensuring that all US taxpayers meet their obligations to declare and pay taxes on foreign bank accounts," John A. DiCicco, Principal Deputy Assistant Attorney General for the Justice Department's Tax Division, said in a statement. "The ability to hide accounts in foreign countries is rapidly dwindling. We will continue working hand-in-hand with the IRS to enforce the tax laws against those who are using offshore accounts � wherever they are located � to evade taxes."
The IRS focus on India and Indian-Americans follows a campaign against undeclared offshore accounts held by US taxpayers, primarily in tax havens such as Switzerland and the Caribbean. In a landmark case in 2009, the IRS went after UBS AG for allowing U.S citizens hide their assets and evade taxes. UBS coughed up $780 million in fines, and more importantly, turned over some 4000 names in a precedent-setting case.
"The IRS continues to focus its attention on international tax evasion," IRS Commissioner Douglas Shulman said on Thrusday about the HSBC India case. ''This summons request is focused on obtaining more information to help us determine if additional actions are needed. As I've said all along, our international efforts are not about just one country or one bank � it's about our wider effort to ensure compliance with the nation's tax laws."
Meanwhile, an HSBC spokesperson in New York told wire services that the bank has been engaged in a "constructive dialogue" with US authorities and hoped the issue can be resolved expeditiously. "HSBC does not condone tax evasion and fully supports the US efforts to promote appropriate payment of taxes by US taxpayers," spokeswoman Juanita Gutierrez said, adding that the bank complies with the law in all the jurisdictions and cooperates with requests from US authorities.
meridiani.planum
12-14 12:33 PM
- Per my LCA; combination of education and experience is not acceptable. Does that mean my evaluation is of no use? And is this LCA good for me?
Its going to be very hard trying to evaluate a 3 year degree to a 4 year BSCS. You can atleast talk with the person recommended by CPUwiz and see what she thinks...
- If evaluation is using 6yrs of experience to make up for 2yrs of education; CAN I, still (also) show the same 6yrs of experience as job experience?
I doubt if this double dipping is going to work...
- I have another approved RIR (Approved Aug07). In worst case, can I use that RIR to file for new 140 to save my 485? Is there any time limit on RIR case too? Like using it under number of weeks/months?[/COLOR]
LCs expire 180 days after their approval, so you have until Feb next year with this LC. However from what I know you need an approved I-140 to interfile with an existing 485 case. dont know if you can interfile an I-140 which is still pending. talk to a good immigration attorney.
Its going to be very hard trying to evaluate a 3 year degree to a 4 year BSCS. You can atleast talk with the person recommended by CPUwiz and see what she thinks...
- If evaluation is using 6yrs of experience to make up for 2yrs of education; CAN I, still (also) show the same 6yrs of experience as job experience?
I doubt if this double dipping is going to work...
- I have another approved RIR (Approved Aug07). In worst case, can I use that RIR to file for new 140 to save my 485? Is there any time limit on RIR case too? Like using it under number of weeks/months?[/COLOR]
LCs expire 180 days after their approval, so you have until Feb next year with this LC. However from what I know you need an approved I-140 to interfile with an existing 485 case. dont know if you can interfile an I-140 which is still pending. talk to a good immigration attorney.
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