I will move out of USA in July, 2023, with no plans to return back for a couple of years at least. I have been continuously residing in USA on H1B work visa for almost 10 years and i do pass the substantial presence test and therefore I am considered a resident alien for tax purpose. Here are some questions i have, if some experts would like to advise on:
1) Do i need to do tax filing as dual status alien or resident alien for year 2023 (when i file my taxes in 2024)? Is there a choice?
2) If i can file as resident alien, would i report all earnings until Dec 2023 or until July 2023? And would i be able to get standard deduction, child credits etc for year 2023?
3) For FBAR and form 8938, would i include information as of July 2023 or Dec 2023 (as there might be additional financial accounts in new country after i move there)?
4) Do i need to file residency termination statement with IRS? is that required or optional? when should i file it, at the time of leaving the country or when i file taxes in 2024?
Thanks for the help.
