Hi,
I came to US on H1-B visa, alongwith my wife (H4 visa), on Nov-04-2010.
If I file tax returns on or before April-15-2011, I'll have to do it as Non-Resident Alien and I'll get some refund.
I read about another option called first year choice, where in (as per my understanding) I can file for extension and then after I qualify for SPT (somewhere around 1st week of Jul-2011) I can opt to be treated as Resident Alien for 2010 and file the returns as Resident Alien.
A couple of questions on this,
1. Is my understanding (about first year choice) correct?
2. Is this the right way to go?
3. Are there any complexities related to this?

Thanks for your advice and help,

Regards,
PD.

1. yes
May be you can file nonresident return as you will not have much income on your W-2 for 2010. You can also claim moving expenses. You may not have any taxable income. Your U.S. Tax Return: Moving Expenses

Hi MukatA, thanks for the reply
As I understand, if I file as non-resident alien I cannot claim exemption for spouse but as a resident I can do that, is that right?