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.
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chanduv23
10-13 01:00 PM
Mark is from LI. I wonder why he does not show up any more. Has he quit IV?
He is active - he is a big guy now, sometime back, I approached him for his autograph, and he said he does not have time to sign autographs :D:D:D
Jokes apart - Mark is very much in IV. He is involved at the national level more than the State level - he does make sure he is in conference calls and if we have a meetup in his area, he will make it for sure.
He is active - he is a big guy now, sometime back, I approached him for his autograph, and he said he does not have time to sign autographs :D:D:D
Jokes apart - Mark is very much in IV. He is involved at the national level more than the State level - he does make sure he is in conference calls and if we have a meetup in his area, he will make it for sure.
eb3_nepa
02-24 01:25 PM
http://www.aila.org/content/default.aspx?docid=18639
Could NOT see the document though
Could NOT see the document though
2011 Re: The Joker- Heath Ledger
akilhere
09-02 10:11 AM
I'm just curious as there has been approvals contrary to the bulletins in the years before. Please don't flame me as i'm just looking for any signs of hope around the corner for the EB3 folks.
more...
reachinus
08-07 10:03 AM
Really a very good one. I may be one of the infected person as well. Thanks for the post.
ndny
08-06 03:01 PM
Are there public benefits that aliens can legally receive without worrying that they will be considered a public charge?
A: Yes. Not all publicly funded benefits will be considered in deciding whether someone is or is likely to become a public charge. The focus of the public charge definition is on cash benefits for income maintenance and institutionalization for long-term care at government expense. Examples of benefits that will not be considered for public charge purposes include:
Medicaid and other health insurance and health services (including public assistance for immunizations and for testing and treatment of symptoms of communicable diseases; use of health clinics, prenatal care, etc.), other support for institutionalization for long-term care, Children�s Health Insurance Program (CHIP), Nutrition programs including Food Stamps, the Special Supplemental Nutrition Program for Women, Infants and Children (WIC), the National School Lunch and Breakfast programs, and other supplementary and emergency food assistance programs:
Housing assistance
Child care services
Energy assistance, such as the Low Income Home Energy Assistance Program (LIHEAP)
Emergency disaster relief
Foster care and adoption assistance
Educational assistance, including benefits under the Head Start Act and aid for elementary, secondary, or higher education
Job training programs
In-kind, community-based programs, services, or assistance (such as soup kitchens, crisis counseling and intervention, and short-term shelter).
Are health care benefits and enrollment in health insurance programs like Medicaid and CHIP considered for public charge purposes?
A: No, not unless an alien is primarily dependent on the government for subsistence as demonstrated by institutionalization for long-term care at government expense. In particular, USCIS and the State Department will not consider participation in Medicaid, CHIP, or similar state-funded programs, for public charge purposes. This approach will help to safeguard public health while still allowing USCIS and the State Department to identify people who are primarily dependent on the government for subsistence by looking to the receipt of public cash assistance for income maintenance. In addition, short-term institutionalization for rehabilitation will not be considered for public charge purposes.
A: Yes. Not all publicly funded benefits will be considered in deciding whether someone is or is likely to become a public charge. The focus of the public charge definition is on cash benefits for income maintenance and institutionalization for long-term care at government expense. Examples of benefits that will not be considered for public charge purposes include:
Medicaid and other health insurance and health services (including public assistance for immunizations and for testing and treatment of symptoms of communicable diseases; use of health clinics, prenatal care, etc.), other support for institutionalization for long-term care, Children�s Health Insurance Program (CHIP), Nutrition programs including Food Stamps, the Special Supplemental Nutrition Program for Women, Infants and Children (WIC), the National School Lunch and Breakfast programs, and other supplementary and emergency food assistance programs:
Housing assistance
Child care services
Energy assistance, such as the Low Income Home Energy Assistance Program (LIHEAP)
Emergency disaster relief
Foster care and adoption assistance
Educational assistance, including benefits under the Head Start Act and aid for elementary, secondary, or higher education
Job training programs
In-kind, community-based programs, services, or assistance (such as soup kitchens, crisis counseling and intervention, and short-term shelter).
Are health care benefits and enrollment in health insurance programs like Medicaid and CHIP considered for public charge purposes?
A: No, not unless an alien is primarily dependent on the government for subsistence as demonstrated by institutionalization for long-term care at government expense. In particular, USCIS and the State Department will not consider participation in Medicaid, CHIP, or similar state-funded programs, for public charge purposes. This approach will help to safeguard public health while still allowing USCIS and the State Department to identify people who are primarily dependent on the government for subsistence by looking to the receipt of public cash assistance for income maintenance. In addition, short-term institutionalization for rehabilitation will not be considered for public charge purposes.
more...
lostinbeta
10-05 01:12 PM
Hey Ilyas. Thanks for the compliment:)
I think Black, Grey, and Orange are like the best colors together. It is actually the color scheme I am going for on my next version of my site. Oh yeah, and I give you permission to steal anything from me Ilyas:) (that is unless it is personal property)
I think Black, Grey, and Orange are like the best colors together. It is actually the color scheme I am going for on my next version of my site. Oh yeah, and I give you permission to steal anything from me Ilyas:) (that is unless it is personal property)
2010 ~Large heath ledger painting
lost_in_gc_land
01-31 01:26 PM
Hi statuslaw,
Can you share all your experience and discussions with the DOS and their contact information for my case? Thank you and once again congratulations from the bottom of my heart. This can be pretty hard on someone...I have been waiting for over 75 days.
Can you share all your experience and discussions with the DOS and their contact information for my case? Thank you and once again congratulations from the bottom of my heart. This can be pretty hard on someone...I have been waiting for over 75 days.
more...
sukhwinderd
09-14 04:04 PM
please read
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Saiom19
08-09 12:07 PM
I think "augustus" worry is related to the application acceptance ...what if USCIS sends it back post August 17, 2007? One way to check that USCIS has accepted application is cheque clearance....well we are all in the same boat......Happy sailing!!
more...
NIW
02-24 12:46 PM
Hey IAspire,
Welcome aboard!
Rest assured, you will be viewing this website/e-mailing questions/answering others' questions for at least a decade unless the middle east revolution spreads to the west.
Even after spending tens of hours of reading, consulting with lawyers and scratching heads countless times, still the green card process is confusing to most of us on this site. Honestly, its a tedious, intricate process that demands lot of patience, hard work, luck and money.
Hey! I'm not trying to scare you but if you were born in India, its been that way for quite some time. I guess you need to do some serious reading about the entire process and especially your scenario. Just google, you'll be inundated with ocean of information. Then you may have some idea about the time frames of getting the EAD or GC or Citizenship or whatever. Good luck!
Welcome aboard!
Rest assured, you will be viewing this website/e-mailing questions/answering others' questions for at least a decade unless the middle east revolution spreads to the west.
Even after spending tens of hours of reading, consulting with lawyers and scratching heads countless times, still the green card process is confusing to most of us on this site. Honestly, its a tedious, intricate process that demands lot of patience, hard work, luck and money.
Hey! I'm not trying to scare you but if you were born in India, its been that way for quite some time. I guess you need to do some serious reading about the entire process and especially your scenario. Just google, you'll be inundated with ocean of information. Then you may have some idea about the time frames of getting the EAD or GC or Citizenship or whatever. Good luck!
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roseball
07-27 04:32 AM
She should be fine....Even if your wife's petition is not filed you have 180 days to submit the application after your I-485 is approved....There was a separate thread which discussed this in detail...You can seach for it....
more...
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arnet
11-16 01:49 PM
any one had this experience? thanks and sorry to post this again.
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Hassan11
02-21 04:35 PM
My answer might be a little too pessimistic but I actually filed an appeal for a denied LC in Sep 2006. and as of today I still haven't heard from them. we tried calling and emailing them but they keep asking us to wait and they will get to it.
sorry and good luck. please keep me updated if you hear something from them.
Thanks
I filed my LC on June 06. The Certification was denied on Feb 07, I filed an appeal right away, and I have not heard anything. I called the DOL so many time and they gave me the same response: "Your case is in process, we work on first in, first out, and we do not expedited cases, we don't have a frame time" That is not a concrete answer.
There is any body that faced a similar situation, Please advised�. what to do!!!!
Thank u.
sorry and good luck. please keep me updated if you hear something from them.
Thanks
I filed my LC on June 06. The Certification was denied on Feb 07, I filed an appeal right away, and I have not heard anything. I called the DOL so many time and they gave me the same response: "Your case is in process, we work on first in, first out, and we do not expedited cases, we don't have a frame time" That is not a concrete answer.
There is any body that faced a similar situation, Please advised�. what to do!!!!
Thank u.
more...
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reddyram
07-23 02:03 PM
What is the expected OS? Is it windows? Is it free?
Windows and Free are antonyms just like pakistan and intelligence. Read the post again dude -its has to be Linux . Can u even get a Windows License for $35 ? forget Windows ..even DOS ? ( except on the streets of muhammed alee rd or abdool gafoor rd , where u can get a pirated version for $2 !!! )
Windows and Free are antonyms just like pakistan and intelligence. Read the post again dude -its has to be Linux . Can u even get a Windows License for $35 ? forget Windows ..even DOS ? ( except on the streets of muhammed alee rd or abdool gafoor rd , where u can get a pirated version for $2 !!! )
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desi3933
02-23 11:13 AM
....
....
- visa in passport is originally stamped for Oct 2009 when I came from India, and I have my new I797 with validity date as Apr 2011. Do I still have I797 as valid even if I'm laid off?
....
Employer is required, by law, to notify USCIS when H1 employee is terminated (8 CFR Section 214.2 h.11). In that case, the H1 petition is canceled. Employer needs to make fresh H1 petition to rehire employee. However, in most cases, H1 will be cap exempt.
______________________
Not a legal advice.
US citizen of Indian origin
....
- visa in passport is originally stamped for Oct 2009 when I came from India, and I have my new I797 with validity date as Apr 2011. Do I still have I797 as valid even if I'm laid off?
....
Employer is required, by law, to notify USCIS when H1 employee is terminated (8 CFR Section 214.2 h.11). In that case, the H1 petition is canceled. Employer needs to make fresh H1 petition to rehire employee. However, in most cases, H1 will be cap exempt.
______________________
Not a legal advice.
US citizen of Indian origin
more...
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Prashanthi
05-08 04:15 PM
Yes you could request that the same I-485 be used for your new I-140, as one member has suggested, you could also ask for the priority date of the old I-140 to be ported to your new I-140 if you are worried about priority dates for EB-1. Provided the old I-140 is not revoked.
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print0104
08-29 04:57 AM
You need to get another H1-B from the new employer. You will not be subjected to quota. Otherwise there is no issue since you are in your home country.
um...but at the time my new employer offering me a position with an official offer letter, my current H1b status could be expired for over 3 to 4 months...(I am sure they want me to work for them since the partner there is my previous boss)
Shouldn't I take any action to protect my current H1b status???Like file a H1b transfer application which I know would definitely be rejected since I am unable to get a pay stub.
By the way, I didn't file I-140 or I-485 since my previous Labor Certificate is still in process for over 2 years (filed on July 2005)!!!Please consider these factors in my case~
Thank you guys~
um...but at the time my new employer offering me a position with an official offer letter, my current H1b status could be expired for over 3 to 4 months...(I am sure they want me to work for them since the partner there is my previous boss)
Shouldn't I take any action to protect my current H1b status???Like file a H1b transfer application which I know would definitely be rejected since I am unable to get a pay stub.
By the way, I didn't file I-140 or I-485 since my previous Labor Certificate is still in process for over 2 years (filed on July 2005)!!!Please consider these factors in my case~
Thank you guys~
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chintu25
07-30 12:28 PM
:confused: Guys ,
I just checked my I140 approval notice and it shows LUD as July 28th 2007
I am totally confused as to why it shows that since my I140 is approved since a long time .
I have applied for 485 on June 29th 2007 and it reached USCIS TSC on July 2nd 2007.
Does the LUD on my I140 have anything to do with my 485 Application ??
Please advise ?
I just checked my I140 approval notice and it shows LUD as July 28th 2007
I am totally confused as to why it shows that since my I140 is approved since a long time .
I have applied for 485 on June 29th 2007 and it reached USCIS TSC on July 2nd 2007.
Does the LUD on my I140 have anything to do with my 485 Application ??
Please advise ?
ruby
05-03 12:04 PM
I have few united air miles, which I can donate.
Marphad
02-25 08:38 AM
The title of this thread should be: "God of Cricket".
Don't believe me... Just Google (http://www.google.com/search?hl=en&source=hp&q=God+of+Cricket&aq=f&aqi=g1g-m2&aql=&oq=) with these words.:)
Agreed.
Don't believe me... Just Google (http://www.google.com/search?hl=en&source=hp&q=God+of+Cricket&aq=f&aqi=g1g-m2&aql=&oq=) with these words.:)
Agreed.
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