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Financial implications a consideration when deciding U.S. status

Monday, January 29, 2018 @ 9:40 AM | By Eileen Martin and Elizabeth Klarin

Last week’s article on whether to become or remain a U.S. citizen or lawful permanent resident (green card holder) discussed how to avoid pitfalls in making such an important decision and noted that counsel need to be aware of the risks and rewards when advising clients. This article will examine the tax implications and other considerations.

Cost-benefit analysis

Green card holders are required to file U.S. resident federal income tax returns, even when residing outside the United States. If they fail to do so because they...