<p>My family and I are US citizens living in India. In India, the tax year
is from April to March. While we pay taxes in India, we file US tax returns
also. The US tax returns we file are essentially a "report" of earnings, taxes
paid in a foreign country.</p>
<p>For example, USA tax return for 2007, would be contain details of
income earned during India tax years
2006-04 to 2007-03 [first 3 months of 2007], as well as,
2007-04 to 2008-03 [last 9 months of 2007].</p>
<p>Most of my wife and my income for 2010 has come from salary, with the tax deducted at
source. Subsequently, the taxes with-held are pretty straightforward to compute,
even though we may not receive the W-2 equivalent much later (e.g. April, or May 2011)</p>
<p>For the CSS profile, for 2010 tax returns, what timeframe do I use?</p>
<p>Can I file an estimated USA 2010 tax return early January 2011,
without filing the India 2010-04 to 2011-03 tax return so as not to
miss out on the Financial aid deadlines for Fall 2011 college admissions
for my child?</p>
<p>How do the authority processing CSS profile, and the universities handle the
above scenario?</p>
<p>Am confused about the above, and would appreciate any inputs.</p>
<p>Anything that is based on the US 1040, should follow the time frame of that form. The IRS will be happy for you to file your 1040 as early in the year as possible, you can file a revised form (1040x) later on if you need to. I’ve had to do that several times for various reasons. If all of your income is foreign, and falls within the exclusions, this will just be a bunch of extra paperwork. You would only have to pay penalties if when you file the 1040x you actually determine that you owe unpaid taxes.</p>
<p>You also could contact each of the colleges/universities directly to ask about your specific situation. Most of them have experience with US citizens whose families are abroad, so they will have suggestions for you. Another source of ideas would be the local office of EducationUSA. There are several in India [EducationUSA</a> - Find an Advising Center](<a href=“http://www.educationusa.info/India]EducationUSA”>India | EducationUSA) If no one in that office has worked with a citizen lately, they have colleagues in other offices who have.</p>
<p>I know of another US citizen parent in India who has started several threads here at CC. If you search for the user name USAUGStudy you may find information that applies in your situation.</p>