Posted by Aca Admin on June 16, 2023
Tax Notes International, June 16, 2023
"Titus, Groups Tout Bill to Study Issues Faced by Americans Abroad" by Andrew Velarde
"Marylouise Serrato of Americans Citizens Abroad (ACA), whose group has advocated for years for a move toward residency-based taxation, praised the bill’s potential as a learning tool for Congress because it could show that most of the citizens abroad affected by U.S. tax laws are not ultrawealthy individuals looking to evade taxes."
'“Often the Congress in drafting legislation doesn't fully understand how this legislation will affect this group of U.S. citizens,” Serrato said. “The cost and complexity of filing, which often results in no additional revenue for the U.S. Treasury, often limits these citizens to invest and manage their day to-day lives while they’re living and working overseas. . . . The commission bill will help Congress to understand who these individuals are and show as ACA research has indicated that these individuals mirror their compatriots living in the United States in terms of demographics and income distribution.”'
"Separately on June 15, ACA announced the creation of a nonpartisan political action committee that will assist candidates that support legislation advancing the interests of citizens abroad."
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