US Tax Implications of Abandoning Your Green Card When a U.S. taxpayer is a Lawful Permanent Resident/Green Card Holder (LPR), they are typically taxed just as if they were a U.S. citizen (worldwide income). This means they are taxed on their worldwide income and are required to report their foreign accounts, assets, investments, trusts, and … Continue reading Green Card Exit Tax: What is the 8-Year Abandonment Rule?