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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amsgc
11-26 01:34 AM
Cygnet,
There is no such thing as a transfer - every petition is a new petition.
In your case, you can be exempt from being counted in the yearly cap if your I-140 has been approved. While filing the petition, your new company will have to attach a copy of the approved I-140, or prove that your I-140 has been approved.
Hello Friends,
I filed for AOS on 07/2007, stopped using my current H1-B on 07/2008 (valid thru 07/2009). I am EB3-India PD 03/2005.
My question is if I can apply for a new H1-B thru a new company in the US now, instead of a transfer? I have a valid reason for doing that. Do let me know.
Thank you.
There is no such thing as a transfer - every petition is a new petition.
In your case, you can be exempt from being counted in the yearly cap if your I-140 has been approved. While filing the petition, your new company will have to attach a copy of the approved I-140, or prove that your I-140 has been approved.
Hello Friends,
I filed for AOS on 07/2007, stopped using my current H1-B on 07/2008 (valid thru 07/2009). I am EB3-India PD 03/2005.
My question is if I can apply for a new H1-B thru a new company in the US now, instead of a transfer? I have a valid reason for doing that. Do let me know.
Thank you.
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snathan
08-25 10:54 PM
Thank you for clarifying snathan. The company will definitely not do anything illegal, in fact it is the legality that is creating challenges. One other question came up today. If a qualified candidates applies for the job (PERM), does the company have to accept the candidate and let me go? All of these questions did not come up while filing EB3 but they are now concerned.
Yes. thats the law.
Yes. thats the law.
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vrbest
11-14 11:36 AM
our case was recvd by uscis on July 23. we got our EAD card, FP notices , 485 receipts already. But 485 status is not online yet. I really dont need to worry about it, but was wondering if anyone is similar situation..
thanks
thanks
more...
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copsmart
10-09 10:26 AM
I haven't tried visitor/business visa, but I got a transit visa for Germany once with an expired H1B stamping in passport. I got that visa from German Counsulate in Boston, MA.
Hope this helps!
Hope this helps!
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perm2gc
06-16 09:29 PM
I am currently living in the US on H4. I will be getting my H1 approval in a couple of weeks.
What will be my status till Oct 1st from the day my H1 is approved?
You H1 will aproved from oct 1st only.until that time you will be on H4.
Do they send a change of status to me as soon as I get my H1 approval? Or do I need to apply for change of status to H1 after I get approval?
You attorney might have applied while applying your H!.Contact your attorney.
What will happen if I APPLY for my EAD (from my husband,being on H4) before my H1 is approved?
You can apply and don't expect that your EAD will come before H1.
What will happen to my H1 APPROVAL before Oct 1st, if my EAD gets approved on Sept 1st?
No Chance that can happen with volumes of applications to be filed.To get the receipt date only it make take 5-6 months.
What will happen if I get my I20 before I apply for EAD or before my H1 is approved?
I20.can you explain in detail
Please help me out.
Thanks
Please talk to your attorney.My views are personal.
What will be my status till Oct 1st from the day my H1 is approved?
You H1 will aproved from oct 1st only.until that time you will be on H4.
Do they send a change of status to me as soon as I get my H1 approval? Or do I need to apply for change of status to H1 after I get approval?
You attorney might have applied while applying your H!.Contact your attorney.
What will happen if I APPLY for my EAD (from my husband,being on H4) before my H1 is approved?
You can apply and don't expect that your EAD will come before H1.
What will happen to my H1 APPROVAL before Oct 1st, if my EAD gets approved on Sept 1st?
No Chance that can happen with volumes of applications to be filed.To get the receipt date only it make take 5-6 months.
What will happen if I get my I20 before I apply for EAD or before my H1 is approved?
I20.can you explain in detail
Please help me out.
Thanks
Please talk to your attorney.My views are personal.
more...
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dummgelauft
09-10 02:08 PM
I have finished my 6 years quota of H1B and right now I am on TN visa (I am Canadian). Since I started the green card process a little late, I still need more time to finish the green card process. So, my question is, is there any way I can go back to H1B visa again once my TN visa expires. I can not renew my TN because I have applied already for I-140 and that shows my intent to immigrate to US.
Thanks
Theo
..but do you want to. Have you not filed your I 485 yet? If you have filed I-485 and it has been pending for 180 days or more, get an EAD (I-765). If your priority date is not current and you have not filed your I-485, you can get a new H1B. With an approved I-140, the 6 year limit does not hold. You can keep on getting H1B renewals, in 3 year extensions, 'til such a time as you can get an EAD or your I-485 is approved. So, yes, its doable, but I would strongly recommned going to EAD, if you can.
DO NOT, UNDER ANY CIRCUMSTANCE, try and renew your TN. It has been wrongly pointed out by one member that I-140 is "not immigrant intent". Well, that is plain "WRONG". It is the I-140 that is the "Immigrant Petition". I-485 is just an application to "adjust your status".
Thanks
Theo
..but do you want to. Have you not filed your I 485 yet? If you have filed I-485 and it has been pending for 180 days or more, get an EAD (I-765). If your priority date is not current and you have not filed your I-485, you can get a new H1B. With an approved I-140, the 6 year limit does not hold. You can keep on getting H1B renewals, in 3 year extensions, 'til such a time as you can get an EAD or your I-485 is approved. So, yes, its doable, but I would strongly recommned going to EAD, if you can.
DO NOT, UNDER ANY CIRCUMSTANCE, try and renew your TN. It has been wrongly pointed out by one member that I-140 is "not immigrant intent". Well, that is plain "WRONG". It is the I-140 that is the "Immigrant Petition". I-485 is just an application to "adjust your status".
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chanduv23
08-07 09:18 AM
A lot of people in the community still not on IV.
more...
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gc_aspirant_prasad
07-26 04:11 PM
Just contributed $ 100
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raaki
11-06 01:38 PM
I am July 3rd filer and just checked my status online.Parole document mailed today
more...
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bsbawa10
09-06 03:30 PM
Many thanks Americandesi, a very nice list. I want this to keep building up. If we can have specific instances with dates and individual experiences, it can help a lot. Please post
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yestogc
11-17 02:30 PM
the option I see is that you should get the responsibilities more clearly defined on your ex companies letter head if possible ............. if not then you can get the role details from your previous peers and manager, at each company.
Act fast as this may take time
Act fast as this may take time
more...
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sukant71
02-12 08:15 PM
Is not weired funny dicriminatvie while 2003/2004 already gor GC while April2001 are waiting for approval.
You do not think there should be once a year declaration for clared date upto so n so not a single file is pending.
Why April2001 has to wait for 8(eight!) years
You do not think there should be once a year declaration for clared date upto so n so not a single file is pending.
Why April2001 has to wait for 8(eight!) years
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virtual55
07-17 01:57 PM
Not a single contribution by anyone....
I think CORE and all active members should shut this website down right now and let all the non paying members feel the misery without this site...
That's why we need paid website, so info can be passed to only paid members who are really serious about these issues
and people like AILA will not have our info.
http://immigrationvoice.org/forum/showthread.php?t=5997&highlight=paid+website
I think CORE and all active members should shut this website down right now and let all the non paying members feel the misery without this site...
That's why we need paid website, so info can be passed to only paid members who are really serious about these issues
and people like AILA will not have our info.
http://immigrationvoice.org/forum/showthread.php?t=5997&highlight=paid+website
more...
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getgc2008
08-09 03:12 PM
I think we will see it towards Aug end... Till then happy browsing the forums.:)
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butterchicken
04-28 02:10 PM
DOL Proposed Legislation for Labor Certification
In an attempt to clamp down on fraud in the labor certification application process, the Department of Labor (�DOL�) has proposed regulations, which would impact both pre-PERM and PERM filings. The proposal includes requiring employers to pay for all costs and fees associated with a labor certification application. The penalties for violating this proposal include denial of the labor certification, revocation, debarment, or any combination. Debarment means an employer can not file a labor certification application for up to three years.
A labor certification application would also have a limited validity period. Currently a labor certification application is valid without limitation unless it is revoked or withdrawn. Under the proposed regulations, an employer must file an immigrant petition with the CIS within 45 days of the labor certification application approval. For applications which have already been certified, an employer must file within 45 days of the enactment of final rule implementing the regulations. If the labor certification application is not filed within this timeframe, it will expire and can not be used to support an immigrant petition.
The proposed regulations also prohibit substitution. Substitution occurs when an employer has an approved labor certification application, but the individual that was originally listed in the labor certification application is no longer being sponsored. An employer could �substitute� a new employee into the labor certification application if the new employee met the minimum requirements listed in the labor certification application at the time the application was initially filed. Concerned that substitution encouraged fraud, DOL proposes to eliminate substitution.
Finally, the proposed rule prohibits a labor certification application to be sold, bartered or purchased. If an individual or entity is found to have engaged in this kind of transaction, the labor certification application can be denied, revoked, debarment, or any combination.
In an attempt to clamp down on fraud in the labor certification application process, the Department of Labor (�DOL�) has proposed regulations, which would impact both pre-PERM and PERM filings. The proposal includes requiring employers to pay for all costs and fees associated with a labor certification application. The penalties for violating this proposal include denial of the labor certification, revocation, debarment, or any combination. Debarment means an employer can not file a labor certification application for up to three years.
A labor certification application would also have a limited validity period. Currently a labor certification application is valid without limitation unless it is revoked or withdrawn. Under the proposed regulations, an employer must file an immigrant petition with the CIS within 45 days of the labor certification application approval. For applications which have already been certified, an employer must file within 45 days of the enactment of final rule implementing the regulations. If the labor certification application is not filed within this timeframe, it will expire and can not be used to support an immigrant petition.
The proposed regulations also prohibit substitution. Substitution occurs when an employer has an approved labor certification application, but the individual that was originally listed in the labor certification application is no longer being sponsored. An employer could �substitute� a new employee into the labor certification application if the new employee met the minimum requirements listed in the labor certification application at the time the application was initially filed. Concerned that substitution encouraged fraud, DOL proposes to eliminate substitution.
Finally, the proposed rule prohibits a labor certification application to be sold, bartered or purchased. If an individual or entity is found to have engaged in this kind of transaction, the labor certification application can be denied, revoked, debarment, or any combination.
more...
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485_se_dukhi
07-20 03:03 PM
This link shows which senators supported and which ones opposed the bill.
http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=110&session=1&vote=00266
This motion was defeated by a very narrow margin (5 votes)... and you can see that exactly 5 senators abstained.
So, what this implies that some effort needs to go to contacting fence sitters and apprise them of our views and hopefully, get them to support us.
Would appreciate guidance from core team on this....
http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=110&session=1&vote=00266
This motion was defeated by a very narrow margin (5 votes)... and you can see that exactly 5 senators abstained.
So, what this implies that some effort needs to go to contacting fence sitters and apprise them of our views and hopefully, get them to support us.
Would appreciate guidance from core team on this....
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nonimmi
07-02 10:03 AM
I see people not supporting the CIR which was suppose to be a pro Immigration bill, no matter which part of the society it was supporting. My question is Are you guys out here a Pro or an anti immigration forum?
Or are you guys out here are to fulfill their selfish dreams, stand on others to reach the top.
Can anyone answer me? I really doubt the people out here.
Did you ask your parents whether you were born legal??
Some of have that doubt. Can you clarify please?
Or are you guys out here are to fulfill their selfish dreams, stand on others to reach the top.
Can anyone answer me? I really doubt the people out here.
Did you ask your parents whether you were born legal??
Some of have that doubt. Can you clarify please?
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actionAction
07-07 03:33 PM
Sorry, I was thinking C++. I will post back with more thoughts
nashorn
12-12 02:47 PM
Hi,
I had one A# on my EAD (during OPT), as xxx-xxx-xxx, which was expired after OPT was end. Then, after I filed my I485 application, I obtained another A# showed on I-797C form, as Axxxxxxxxx. So I am quite comfused that which one is my current A#. Does A# change with our status? Thanks.
Alien # starts with A. The one your have is your A#, the one you had during OPT is not a A#.
I had one A# on my EAD (during OPT), as xxx-xxx-xxx, which was expired after OPT was end. Then, after I filed my I485 application, I obtained another A# showed on I-797C form, as Axxxxxxxxx. So I am quite comfused that which one is my current A#. Does A# change with our status? Thanks.
Alien # starts with A. The one your have is your A#, the one you had during OPT is not a A#.
radhay
04-28 02:49 PM
There is nothing wrong in asking but the attorney has no right to reveal the information to you although some do. Did you try to make that request through your employer?
I think some members requested a copy of 140 approval notice from USCIS by filing a freedom of information request. Not sure how though.
I think some members requested a copy of 140 approval notice from USCIS by filing a freedom of information request. Not sure how though.
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