Tax Issues for U.S. Residents and Foreign Nationals

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Subject:		Re: US resident living abroad
Name:		Gary Carter
Date Posted:		Jun 6, 08 - 6:35 AM
Email:		gwc@gwcartercpa.com
Message:		Hi Silvio - As a green card holder, you are considered a US resident by default, until you officially relinquish your green card and file Form 8854 with the IRS. You are eligible for the foreign earned income exclusion and the foreign tax credit to reduce or eliminate double taxation on your foreign source income. To claim these benefits, however, you must file a US tax return. Taxation of your 401(k) is determined by your residency status at the time of distributions and the applicable provisions of the tax treaty, if any, between the US and your country of residence.

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