Hello

I am a H1B holder from India and have been working in the US for some time.
I would like to know the following:

1. In India , you get a tax rebate if you invest in govt. bonds , pension policies, ELSS or donate to charitable institutions etc.
Is there any such thing in the US?

2. Can you recommend web sites on US Income Tax laws that have info. On H1B ?

Thanks,
NewTaxMaster

NewTaxMaster:

1) If you invest in U.S. Treasury notes/bonds/Savings Bonds, the interest is still taxable on the federal level, but is tax-free on the state level.

If you invest on your company's 401K, your contribution and the company's matching contribution is NOT TAXED by either the IRS or the state, and the account grows tax-deferred.

Not sure what ELSS is, so I cannot say if there is a U.S. equivalent.

Charitable donations are itemized donations. In order to itemize, most taxpayers must be paying on a home mortgage.

2. The website for which I prepare taxes, Visa Taxes - File H1B Tax OPT Tax F1 Tax OPT to H1 Tax J1 Tax H4 Tax ITIN Form 1040 NR, 843, W7 , IRS 519 (http://www.visataxes.com), already does tax work for H-1B visaholders and is expanding its services to include legal and visa work for foreign nationals.