Tax Simplification for Americans Abroad Act Introduced

The American (January - February 2022)

Tax Simplification for Americans Abroad Act Introduced

'ACA’s Marylouise Serrato says that Congressman Beyer’s bill is a good step forward and indicates that Congress is getting the message that something
needs to be done about the taxation of Americans overseas. 

She says: 'ACA has been instrumental in getting this message into Congress through advocacy in Washington, DC and write-in campaigns calling for
the Congress to hold hearings. Hearings are exactly what is needed and are the essential next step in the process of tax reform for Americans overseas.
Although the Tax Simplification for Americans Abroad Act addresses some of the cost and compliance issues that have been reported by overseas Americans, it does not address the greater problems associated with the
current Citizenship-Based Taxation (CBT) regime which can only be
addressed by serious tax reform and adoption of Residence-Based
Taxation (RBT).''

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