If you are a green card holder, the beginning of the new 2020 tax year will mean another year is added to the number of years considered with the 8 out of 15 year expatriation tax charge regime. You may wish to take advice as to whether there would be any advantage in surrendering your green card this calendar year.
What should you do?
If you are considering a move to a new country then speak to us first to allow adequate planning. If you are approaching the 8 year green card holding period, consider relinquishing your green card in 2019.
Click here to go back to 2019 US Tax Year End Planning.