ARTICLE
10 December 2019

U.S. Tax And U.S. Immigration Practice Groups' December 2019 Practice Pointer

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Pearl Cohen Zedek Latzer Baratz
Contributor
Pearl Cohen Zedek Latzer Baratz logo
Pearl Cohen is an international law firm with offices in Israel, the United States, and the United Kingdom. Our strength is derived from decades of legal experience and an intimate knowledge of the cutting edge technological, legal, and transactional issues facing our clients in local and cross border matters. This combination of experience and knowledge allows us to provide sound and innovative advice to clients worldwide.
If you became a Lawful Permanent Resident ("Green Card" holder) at any time during 2013, as of January 1, 2020, you will be considered a "Long-Term Resident"...
United States Tax
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If you became a Lawful Permanent Resident (“Green Card” holder) at any time during 2013, as of January 1, 2020, you will be considered a “Long-Term Resident” by the IRS and may be subject to additional reporting requirements and an expatriation tax should you decide to surrender your status in the future.

Additionally, even if you became a Green Card holder at any time and are no longer living in the U.S., whether or not your Green Card has expired, you are still required to file taxes in the U.S. This is true even if you were only a Green Card holder for a few days within a given year.

If you intend to give up your Green Card status, there is still time to do so before the end of the year, either to prevent becoming a Long Term Resident or in order to avoid having to file taxes beyond 2019. However, it is very important that you comply with the IRS and USCIS guidelines, otherwise your attempt to surrender your status may be delayed or ineffective.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

ARTICLE
10 December 2019

U.S. Tax And U.S. Immigration Practice Groups' December 2019 Practice Pointer

United States Tax
Contributor
Pearl Cohen Zedek Latzer Baratz logo
Pearl Cohen is an international law firm with offices in Israel, the United States, and the United Kingdom. Our strength is derived from decades of legal experience and an intimate knowledge of the cutting edge technological, legal, and transactional issues facing our clients in local and cross border matters. This combination of experience and knowledge allows us to provide sound and innovative advice to clients worldwide.
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