Relinquishing U.S Residency (green card)
Jun 1st 2017, 4:27 pm
#1
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Location: CA
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Relinquishing U.S Residency (green card)
After 15 years my wife and i are planning to return to the UK permanently and will therefore give up our residency status.
Does anyone have any experience of doing this? I know we will have to complete paperwork, but i am unsure of the tax implications and whether we will get hammered for tax. I had heard that the past five years returns are taken into account and there is a threshold over which we will be expected to pay tax again. Should we try and find a tax advisor experienced in these matters? Any advice would be appreciated!
Does anyone have any experience of doing this? I know we will have to complete paperwork, but i am unsure of the tax implications and whether we will get hammered for tax. I had heard that the past five years returns are taken into account and there is a threshold over which we will be expected to pay tax again. Should we try and find a tax advisor experienced in these matters? Any advice would be appreciated!
Jun 1st 2017, 6:57 pm
#2
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Re: Relinquishing U.S Residency (green card)
this is a pretty up to date article, and may answer some questions - https://www.forbes.com/sites/robertw.../#c023cf2890cd
this may also help: https://www.irs.gov/individuals/inte...patriation-tax
this may also help: https://www.irs.gov/individuals/inte...patriation-tax
Jun 2nd 2017, 8:39 am
#3
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Joined: Nov 2007
Location: CA
Posts: 358
Re: Relinquishing U.S Residency (green card)
this is a pretty up to date article, and may answer some questions - https://www.forbes.com/sites/robertw.../#c023cf2890cd
this may also help: https://www.irs.gov/individuals/inte...patriation-tax
this may also help: https://www.irs.gov/individuals/inte...patriation-tax
