Tax Day is only 2 months away. As you get ready to file your tax returns by the due date of April 15, here are some important things Indian Americans should remember:
Global income If you are a US resident or US citizen (whether NRI, PIO or OCI), you must pay taxes in the US on your global income. A US resident includes a Green Card holder as well as someone who has been physically present in the United States on at least 31 days during 2012, and 183 days during the 3 year period that includes the 2012 and the 2 years immediately before. To satisfy the 183 days requirement, count all of the days you were present in the current year, and one-third of the days you were present in the first year before the current year, and one-sixth of the days you were present in the second year before the current year.
