GLOSSARY · VISA-HOLDER FINANCE
Long-term resident (expatriation rules)
A green card holder who was a lawful permanent resident in at least 8 of the 15 tax years ending with the year their US residence ends. Only long-term residents and citizens can be reached by the expatriation tax. A year does not count if the person was treated as a resident of another country under a tax treaty and did not waive the treaty benefits.
Also called: ltr green card, 8 of 15 years green card, long-term permanent resident tax
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CHAPTER · THE LONG GAME: GREEN CARD, RETIREMENT OR LEAVING · DEEP DIVEMoney Planning Around the Green CardCHAPTER · THE LONG GAME: GREEN CARD, RETIREMENT OR LEAVING · DEEP DIVEThe Expatriation Tax for Long-Term Green Card HoldersRELATED TERMS
SOURCES
- Instructions for Form 8854, Initial and Annual Expatriation Statement. Internal Revenue Service.