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New immigrants need to know-Misunderstanding of U.S. Green Card Overseas Assets Declaration

Although the taxation in the United States is quite high, there is a basic rule for global taxation, that is: all property before obtaining permanent resident status (green card) in the United States has nothing to do with this country. Therefore, this part of the property is not taxable. The income after obtaining permanent resident status (green card) will need to be taxed. . . . . .

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