Do I need to pay estate taxes if I have a green card?

On Behalf of | Feb 3, 2017 | U.s. Permanent Residency |

From missing family members who live in another country to completing paperwork, you may have been through a number of challenges if you obtained a green card in the U.S. However, it is important to be aware of any obligations you may have, such as estate taxes. In Florida, and all other states, people who have green cards and do not realize these types of commitments may face harsh penalties.

When it comes to estate taxes, resident aliens usually have the same responsibilities as American citizens, according to the Internal Revenue Service. In fact, you may be required to pay estate taxes even if you do not have a green card. If you have recently spent enough time in the U.S. and meet the conditions laid forth under the Substantial Presence Test, you will be considered an American resident for tax-related purposes. With the arrival of tax season, it is important to understand any other duties you may have, such as income taxes. If you fail to pay the taxes that are owed, you could face steep financial penalties.

If a loved one has passed away, you may be going through strong emotions, which can make it even harder to deal with estate taxes. That said, it is also necessary to familiarize yourself with your responsibilities and avoid any mistakes that could make life even more complicated.

This post is provided to shed light on some of the tax obligations that green card holders have and should not be viewed as a replacement for legal advice.


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