ACA advances on Residency-based taxation (RBT)

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ACA’s RBT baseline is an outline of thinking on the subject of how a residence or territorial tax proposal would need to be structured to pass Congress as law.  ACA knows that Congress will not pass legislation that leaves open the door to abuse and that is why elements like a departure fee have been suggested.  Only through scoring will we be able to review and determine what elements are needed to make RBT doable.  ACA also believes that all out repeal of FATCA, given the Congress’s interest is combating tax evasion, is not realistic.  That is why ACA proposes a carve-out for Americans overseas and our Same Country Exemption (SCE) is included in RBT.  ACA believes that it is best to present Congress with a measured proposal than to ask for the impossible and work backwards towards a compromise. Click here to see our Press Release.