ash72
05-31-2009, 08:35 PM
Hi,
After residing in this country for last 10 years, I have decided to return permanently to India. I have been a greencard holder for last 4 years. This might be common or repeated questions, but really appreciate your response. I am looking for help at this time.
1. How should I file my taxes for 2009 (tax clearance certificate) before leaving ? I was told theres something like sailing permit or tax clearance certificate which will be useful to show I do not owe anything in taxes. What should be my residency status while obtaining this permit/certificate or filing taxes ?
2. Do I really need to surrender my green card after leaving or let my residency status change to non-resident US as I do not plan to return back. I have been on GC with only 4 years. If I have to surrender what do I need to do ?
3. Do I need to file 2009 (and in future) US tax returns from India in 2010 or the tax clearance certificate will take care of everything.
4. Is is true the taxes are heavy while applying for sailing permit or tax clearance certificate.
5. Do I need to inform IRS or USCIS about this ?
6. Is it good to sell-off everything and leave, as I do not plan to return back to US. Will it incur heavy tax on salary income, capital gains/loss, dividends etc. ? Is something like "exit tax" going to be applicable here ?
7. How about custom issue while carrying electronics (home theatre, portable DVD players, camcorders, digicam etc.) and excess baggage.
thanks in advance.
After residing in this country for last 10 years, I have decided to return permanently to India. I have been a greencard holder for last 4 years. This might be common or repeated questions, but really appreciate your response. I am looking for help at this time.
1. How should I file my taxes for 2009 (tax clearance certificate) before leaving ? I was told theres something like sailing permit or tax clearance certificate which will be useful to show I do not owe anything in taxes. What should be my residency status while obtaining this permit/certificate or filing taxes ?
2. Do I really need to surrender my green card after leaving or let my residency status change to non-resident US as I do not plan to return back. I have been on GC with only 4 years. If I have to surrender what do I need to do ?
3. Do I need to file 2009 (and in future) US tax returns from India in 2010 or the tax clearance certificate will take care of everything.
4. Is is true the taxes are heavy while applying for sailing permit or tax clearance certificate.
5. Do I need to inform IRS or USCIS about this ?
6. Is it good to sell-off everything and leave, as I do not plan to return back to US. Will it incur heavy tax on salary income, capital gains/loss, dividends etc. ? Is something like "exit tax" going to be applicable here ?
7. How about custom issue while carrying electronics (home theatre, portable DVD players, camcorders, digicam etc.) and excess baggage.
thanks in advance.