How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Ely Your Own Question
Ely, Counselor at Law
Category: CA Real Estate
Satisfied Customers: 99430
Experience:  Private practice with focus on family, criminal, PI, consumer protection, and business consultation.
Type Your CA Real Estate Question Here...
Ely is online now
A new question is answered every 9 seconds

Is it essential card resident to show income from pension in

Customer Question

Is it essential for a green card resident to show income from pension in India and details of agricultural plus urban land to IRS in USA and are their any criminal consequencies by not doing it.
Submitted: 4 months ago.
Category: CA Real Estate
Expert:  Ely replied 4 months ago.

Hello and welcome to JustAnswer. Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.

If you are a resident alien (green card holder), then someone in your situation must declare income from abroad. See HERE.

There is a penalty if caught - the penalty is equal to 20 percent of the underpayment. The penalty becomes 40 percent for any portion of the underpayment that is attributable to an undisclosed no-neconomic substance transaction, or, an undisclosed foreign financial asset transaction.

Criminal charges may also be filed for non-declarations, but this is rare.

Please note: If I tell you simply what you wish to hear, this would be unfair to you. I need to be honest with you and sometimes this means providing information that is not optimal. Negative ratings are reserved for experts who are rude or for erroneous information. Please rate me on the quality of my information; do not punish me for my honesty.

Gentle Reminder: Please, use REPLY or SEND button to keep chatting, or RATE POSITIVELY and SUBMIT your rating when we are finished. You may always ask follow ups at no charge after rating.

Related CA Real Estate Questions