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OCTOBER 2006 BASIC GUIDE TAX UNDERSTANDING YOUR U.S. TAX OBLIGATIONS FOR GREEN CARD HOLDERS If you have a U.S. green card, you are a lawful permanent resident of the U.S. even if you live abroad.

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As a green card holder, you generally are required to file a U.S. income tax return and report worldwide income no matter where you live.

The Bona Fide Resident Test is one of the two tests US Americans and green card holders living abroad can use to qualify to claim the Foreign Earned Income Exclusion, the Foreign Housing Exclusion, or the Foreign Housing Deduction.

Who has to pay the U.S. exit tax? Not everybody who leaves the country has to pay an exit tax — only those citizens and long-term resident Green Card holders who the IRS says fall in the category of covered expatriates.

Resident aliens must follow the same tax laws as U.S. citizens. If you're a resident alien, you must report your worldwide income from all sources, that is, income from both within and outside the United States. You'll file a Form 1040, U.S. Individual Income Tax Return or Form 1040-SR, U.S. Tax Return for Seniors.

Foreign assets, property and investments Different from earned income, foreign wealth must be disclosed on your taxes if you're a green card holder.

Expatriation tax provisions apply to U.S. citizens who have relinquished their citizenship and long-term residents who have ended their residency (expatriated). Form 8854 is used by individuals who have expatriated on or after June 4, 2004.

Yes. A green card holder has to pay taxes the same way a US citizen would. So do other immigrants who count as US residents for tax purposes (or “resident aliens,” as the IRS still calls them).

Generally, if you surrender your green card during the taxable year, your tax status as a resident alien will terminate on the last day of that calendar year.

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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232