Winning the Green Card lottery can seem like a great stroke of luck until you find out about the income tax and financial reporting requirements that come with it. No matter where you live, Green Card holders are treated just like U.S. citizens when it comes to matters of taxation but proper planning can help to reduce the impact. Especially if you plan to move to the U.S., timely planning before activating your Green Card is absolutely critical and can result in tax savings of many thousands of dollars. Get in touch with us and let us help.
- Foreign owners of U.S. real estate and stocks may face estate tax issues
- IRS confirms the end of the Offshore Voluntary Compliance Program (OVDP) as of September 28, 2018
- A social security number is now required to obtain or renew a U.S. passport
- Foreign owners of U.S. LLC’s are no longer anonymous
- Green Card holders are subject to U.S. tax and reporting requirements