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socrateaser
socrateaser, Lawyer
Category: Immigration Law
Satisfied Customers: 33862
Experience:  Retired (mostly)
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Hi! I had a question about the tax implications of my husband

Resolved Question:

Hi! I had a question about the tax implications of my husband revoking his green card:

Myself:
US Citizen earning no income
Lives in Australia since Feb 5, 2009

Husband:
Peruvian Citizen with US Green Card
Green Card Issue Date: Dec 2, 2005
Green Card Expiry: Dec 3, 2015

Lived in US continuously until Feb 5, 2009
Lives in Australia since Feb 5, 2009
Had one travel document issued by US: Issue Date Feb 1, 2010; Expired Jan 30, 2012

Occasional visits to US during stay in Australia for 3 weeks max in 2009, 2010, 2011

US Taxes:
We have filed jointly during the entire length of Husband's Green Card, even while in Australia.

Assets:
House: Owe 90k more than value (approx value $135,000)
Husband 401k: $30,000
Husband Australian Retirement Fund: $50,000
Car: owe $20,000 (approx value $25,000)
Household assets: $10,000

2 Children who are US citizens

Reason to considering revoking:
We are currently evaluating an opportunity for my husband to work in Saudi Arabia. We are considering revoking my husband's Green Card before it's expiration, as it's most likely void for travel because of the length of stay outside the US.

Is it correct to assume that if my husband files a Form I-407 and Form 8854, he no longer has to report his foreign income to the IRS?

Also, being a US citizen living abroad, and even though I would have no income....if my husband revokes his green card, would I file "married, separately" or "single" or "head of household"

Thank you for your time and attention!
Submitted: 9 months ago.
Category: Immigration Law
Expert:  socrateaser replied 9 months ago.
Hello...you asked:

Is it correct to assume that if my husband files a Form I-407 and Form 8854, he no longer has to report his foreign income to the IRS?

A: Since your husband did not live in the USA for at least 8 of the last 15 tax years, he is not a Long-Term Resident, and consequently the expatriation rules do not apply to him. Thus, he would not have to file a form 8854. His U.S. tax status would terminate upon the filing of the I-407 form. Legally, he would file a tax return for the current year, reporting income up to the I-407 filing date. After that, he would have no further U.S. Tax liability.

Also, being a US citizen living abroad, and even though I would have no income....if my husband revokes his green card, would I file "married, separately" or "single" or "head of household"


A: If you have no taxable income, then you do not need to file an individual tax return. However, for the current tax year, you could file either married-joint or married separate, so as to identify any income jointly or separately earned by each of taxpayer.

Please let me know if my answer is helpful. And, thanks for using justanswer.com!
socrateaser, Lawyer
Category: Immigration Law
Satisfied Customers: 33862
Experience: Retired (mostly)
socrateaser and 3 other Immigration Law Specialists are ready to help you
Customer: replied 9 months ago.

Great! Thanks for the prompt response :)

Expert:  socrateaser replied 9 months ago.
You're welcome -- and good luck!

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