Frequently Asked Questions of US Taxes for New Green Card Holders
Congratulations on obtaining your US Green Card. After became a permanent resident of the United States, it comes some new responsibilities, one of which is filing US taxes. But don't worry, we've compiled some common questions you may have in your first year with a Green Card.
Q1: Do I need to file US taxes if I just got my Green Card this year?
A1: If you meet the filing threshold in the year you received green card, even if you received it at the end of the year, you are required to file tax return in the following year. For example, you received your green card on December 31, 2023. You were single and your global income exceeded 13,850 USD. Then you are obligated to file your 2023 tax return in 2024 tax filing season.
Q2: Do I need to report income from outside the United States?
A2: Yes, you are required to report your global income to the United States.
Q3: Are there any deductions I can apply for?
A3: Yes, unlike non-US tax residents, green card holders can have the same tax deductions and exemptions as US citizens like standard deduction, itemized deductions, and foreign earned income exclusion.
USCPA Sophie Luo (羅霞) reminds you that in the first year of filing, green card holders can choose to file the tax return as US citizens or as the dual-status. It's recommended to consult with a US certified public accountant for a deeper understanding of your future tax plan.
If you have any questions or need further help,
please contact us at the USCPA Sophie Luo (羅霞) +886 980919600
or Email: ustaxproservice@gmail.com
Also welcome to visit our website: https://www.ustaxproservice.com
(USTAX Service LLC)