top of page
Search
  • Daniel Gray CPA Toronto

Expired Green Card Holder – don’t make the costly mistake of others!


Green card holders are taxed like US citizens and are thus subject to US income tax on their worldwide income regardless of residency and must also stay FBAR-compliant.

Continuing to hold the card is a status quo maintenance for US tax law purposes.

Don’t be like others who made the mistake of thinking that simply because their green cards have “expired” they are no longer US tax subjects. That doesn’t happen unless it is rescinded or administratively or judicially determined to have been abandoned (think: US Immigration authorities or a US consular officer or an individual’s application for abandonment USING INS Form I–407 ‘Abandonment of Lawful Permanent Resident Status’).

If one leaves the USA with an expired green card but such card remains valid for tax purposes, all the terrible consequences of FBAR non-compliance apply (a nightmare).


31 views

Recent Posts

See All

Tax AI vs Tax Pro

I tested out IRS's new Form 1042-S Data Integrity Tool at https://1042sdi.for.irs.gov/Account/LogIn?ReturnUrl=%2F This software program provides a no-cost standalone tool to assist in complying with

Stuck in IRS ITIN no-man's land

Canadians inherit pensions of deceased US resident relatives such as Teachers Insurance and Annuity Association of America (TIAA). IRS requires an ITIN letter saying the NRA already has (versus 'openi

bottom of page