Think Hard and Twice Before Giving up Your Green Card As a Green Card holder, you will have been treated like a US citizen for tax purposes, and the same is true if you decide to give up your Green Card. Basically, you will face the same exit tax that a US citizen would face if they were renouncing their citizenship. You only face this exit tax if you are what we call a covered expat. How does one become a covered expat? For a Green Card holder, you would fall into this cate