Tax Filing Checklist 2025: Documents You Must Have Before Filing

Introduction

Tax season is upon us once again, and if you're an American or a Green Card holder residing in India, taking care of your paperwork should not be on your list of things to procrastinate. IRS changes its filing rules every year, and moving towards 2025 being prepared is the ace in the pocket for easy, hassle-free filing.

At Accelero Corporation, we are experts in assisting expats, Green Card holders, and U.S. citizens who want to be sure that they fulfill their tax obligations in the right way and are not caught off guard. If you are a salaried professional, business owner, or retiree who receives U.S. income while residing in India, it is of utmost importance that you comprehend the documents that you will require before you start your tax filing.

Here is the ultimate Tax Filing Checklist for 2025 so you don't find yourself running around frantically at the eleventh hour.


1. Personal Identification Details

First things first, your basic ID proofs matter—yes, even for taxes.

  • Social Security Number (SSN) or ITIN

  • Passport or Aadhaar card (especially useful for India-based identification)

  • Current address (Indian or U.S.) and banking details

Your tax preparer will require these to confirm your identity and complete the necessary forms accurately.


2. Income Documents (Worldwide Income)

No matter if you earn in the U.S., India, or both, the IRS is interested. As a U.S. citizen or Green Card holder, you are taxed on your worldwide income.

These are the documents that you are to gather:

  • Form W-2 (for U.S. wages)

  • Form 1099s (for freelance, dividends, or interest income)

  • Indian salary slips or Form 16

  • Bank statements for interest income

  • Investment records and capital gains statements from both U.S. and Indian sources

This paperwork allows you to figure out your total taxable income properly and gives the assurance of full disclosure of the transactions across jurisdictions.


3. Foreign Asset and Bank Details

It often happens that expats and people residing in the U.S. with some ties there forget about the fact that they need to report their foreign bank accounts. If at any point during the year your total aggregate value of accounts goes beyond $10,000, you have to file the FBAR (Foreign Bank Account Report).

You will need:

  • Bank account numbers and foreign bank names

  • Highest balances of the period

  • Joint ownership details, if any

In addition, should the set limits be reached, reporting foreign assets under FATCA (Form 8938) will be necessary.


4. Deductions and Credits (Don’t Leave Money on the Table!)

Taxpayers who make good use of all the deductions and credits are engaging in intelligent tax planning. Based on your circumstances, you may qualify for the Foreign Earned Income Exclusion (FEIE), Foreign Tax Credit, or the deductions that are related to the care of dependents, education, or health insurance.

In case you are residing in Hyderabad or any part of India and are paying local taxes, you must check out the India Foreign Tax Credit in Hyderabad. This credit provides U.S. tax filers an opportunity to lessen their IRS debt by recognizing the taxes that have been paid to the Indian government as a credit. Accelero Corporation can assist you in figuring out if you qualify and in filing the correct forms.

First of all, gather the necessary documents, including:

  • Proof of taxes paid in India (like Form 26AS or ITR-V)

  • Receipts for education, healthcare, or childcare expenses

  • Charitable donation receipts (from eligible institutions)


5. Previous Year Tax Returns

If you're filing with a new tax preparer or switching to a different method (like moving from DIY software to expert services like Accelero), having copies of your previous years’ tax returns is a must. These help spot carry-forward credits, business losses, or even previous reporting errors.


6. Additional Reporting: Investments, Crypto, and Business Income

Remember:

  • Rental income from properties located in the U.S. or India

  • Crypto assets or crypto transactions

  • Self-employed or freelance income (with invoices and expenses)

  • K-1s, brokerage statements, or mutual fund summaries

They have to be done correctly to prevent any kind of penalties or the IRS coming after you with issues.


Final Word: Get Expert Help for Stress-Free Filing

Filing taxes as a U.S. citizen or a USA Tax Filer in India Green Card Holder is not an easy task. The compliance regulations for two countries can be intricate and confusing very quickly. Accelero Corporation is the solution to this problem. Our competent team of chartered accountants and U.S. tax experts provides personalized support to expats, Green Card holders, and U.S. citizens residing in India.

We are with you all the way when you have cross-border income, want to make the most of the credits, and are still unsure about FATCA/FBAR compliance. We guarantee a smooth tax filing journey in 2025.
Location: Hyderabad, Telangana 500032, India

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