Once again, I would like to humbly thank you on your kind advice and prompt responses. I know I'm getting way ahead of myself here, on this matter at this point but this is how I would like to summarize and conclude this post, and please correct me if there is any error in my anticipation. I've derived this after taking your advice and reading Publication 519 + Forms 1040/1040NR-EZ/4868 (instructions) for multiple times.
1) I'll file an Online Extension before 04/15/2010. In which I'll provide details as below mentioned:-
a. My US residential address,
b. My SSN
c. Spouse SSN :- I'll leave it blank (Although my wife has an ITIN and eligible for SSN which I'm planning to apply soon!)
d. Estimated Tax liability:- Derived after using 1040NR-EZ (No Standard Deduction, No Dependents but only PE of $3650 for myself)
e. Total Tax payments :- I'll fetch from my W2
f. Balance due :- This will come in minus as I believe I've already paid more.
g. Amount I'm Paying :- Zero
h. Check if Out of Country:- I'm not checking this one as I'll be in USA.
i. Check if you file 1040NR/EZ :- I'm confused about this one but I'm not going to check it.
2) After 05/15/2010, when I've passed SPT for 2010, I'm going to manually file my actual 2009 Return in which I'll include
a. 1040A - (Married filing Jointly) Taxes derived as per the Federal Tax brackets (table) after deducting (SD=$11,400 + PE=$14,600 + Chid TC=$2000)
b. Notarized W7 + Passport copy of my second Kid for his ITIN
c. Statement for First Year Choice including:-
1. My Name and Address
2. I'm making First Year Choice
3. I was not resident in 2008
4. I was resident under SPT in 2010
5. Number of days present in USA in 2010
6. The date of my arrival and continuous presence in 2009
Please advice/correct me, if I'm missing something. I'm an amateur, and would not like to mess it up!
3) Now, if I make this choice, do I need to end it formally next year by intimating IRS?
4) Since I'm making this choice, does that mean I can not make such choice ever in future for the lifetime? Assuming I leave the country in 2011 and return back with similar scenarios after few years, lets assume in August-2015? Who knows if world still exist, after the devastation showed in 2012 movie! :)
Thank You,
Dhiren