For the past few weeks there has been increasing speculation about the contents of a rumoured Residence Based Taxation proposal from Congressman George Holding’s office. Democrats Abroad reported that they had seen the proposal. Then Republicans Overseas were also on board. And, over on the American Expatriates Facebook Group, Keith Redmond reported on a meeting held at the offices of Americans for Tax Reform to discuss the proposal. It has been great to see such broad-based support for this much-needed reform. Continue reading “Residence Based Taxation Proposal”
The Transition Tax could be the final straw for business owners among the American diaspora.
It’s easy. Just cut and paste from one of these two letter writing campaigns:
- The original letter, initiated in Israel by Monte Silver (http://www.americansabroadfortaxfairness.org/) which has been endorsed by Republicans Overseas
- Or the version promoted by Democrats Abroad.
The letter asks the IRS to exempt nonresident individuals from the application of the transition tax and GILTI. It’s great to see bipartisan support for this effort! Continue reading “Fighting the Transition Tax”