Tax on foreign severance package

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Frodo

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I have the chance to take a significant severance package (> 500K) from my current employer in Germany. I'm German citizen, my wife is also German and is green card holder. I plan to move to the US and have the package paid out in 2012 in the US. I know that German tax authorities will not deduct taxes from the gross amount of the package, if I leave German and immigrate into the US. Can anybody give me an idea how the severance package will be taxed in the US?
Any advice is appreciated.
 
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