Differences

This shows you the differences between two versions of the page.

Link to this comparison view

Both sides previous revision Previous revision
Next revision
Previous revision
wiki:contents:us_tax:tax_reform [2018/05/03 15:36]
karen [Transition Tax]
wiki:contents:us_tax:tax_reform [2018/12/31 20:09] (current)
karen reorganise TCJA content
Line 5: Line 5:
  
 NB - this discussion covers only the proposals that relate directly to the taxation of non-resident US citizens and green card holders. NB - this discussion covers only the proposals that relate directly to the taxation of non-resident US citizens and green card holders.
 +==== Tax Fairness for Americans Abroad Act ====
 +
 +[[https://​www.congress.gov/​bill/​115th-congress/​house-bill/​7358|HR7358]] was introduced by Rep. George Holding (R-NC) on 20 December 2018. See the [[http://​fixthetaxtreaty.org/​2018/​12/​21/​tax-fairness-for-americans-abroad-act/​|blog post]].
 +
 ==== Republicans Overseas ==== ==== Republicans Overseas ====
  
Line 36: Line 40:
 Bloomberg has prepared a table comparing the House and Senate versions of the bill ([[http://​src.bna.com/​t7h|pdf]]). Bloomberg has prepared a table comparing the House and Senate versions of the bill ([[http://​src.bna.com/​t7h|pdf]]).
  
-FIXME The final bill was passed by Congress on 20 December. The discussion below needs updating.+The final bill was passed by Congress on 20 December ​and signed into law on 22 December 2017
 ==== House Bill ==== ==== House Bill ====
  
Line 57: Line 61:
   * [[https://​www.rollcall.com/​news/​politics/​finance-committee-wont-mark-tax-bill-language-next-week|A Tax Bill in Plain English? Senate Finance Committee Is Already There]] (Roll Call) 9 Nov 2017   * [[https://​www.rollcall.com/​news/​politics/​finance-committee-wont-mark-tax-bill-language-next-week|A Tax Bill in Plain English? Senate Finance Committee Is Already There]] (Roll Call) 9 Nov 2017
   ​   ​
 +==== Post-Enactment ====
 +
 +For a discussion of the provisions that affect international businesses, including local corporations owned by nonresident US citizens, see the [[wiki:​contents:​us_tax:​cfcs|wiki page on Controlled Foreign Corporations]].
 +
 +Other impacts of TCJA were discussed in [[http://​fixthetaxtreaty.org/​2018/​12/​19/​tcja-and-us-expats/​|this blog post]].
 +
 +A complete list of blog posts on TCJA can be found [[http://​fixthetaxtreaty.org/​category/​tcja/​|here]].
 +
 ===== Efforts to Support Tax Reform in the US ===== ===== Efforts to Support Tax Reform in the US =====
  
Line 65: Line 77:
 In January 2017, a link to [[https://​docs.google.com/​spreadsheets/​d/​1v4kBW-PiVokAJbmmQyycCjQHCP6ym6oozdtW91ZWy-M/​edit#​gid=1727735074|this spreadsheet]] of Congressional Assistants to members of the tax committees was [[https://​www.facebook.com/​groups/​AmericanExpatriates/​permalink/​717143111785097/​|posted on Facebook]] (NB: it is not clear that anyone is maintaining this spreadsheet). In January 2017, a link to [[https://​docs.google.com/​spreadsheets/​d/​1v4kBW-PiVokAJbmmQyycCjQHCP6ym6oozdtW91ZWy-M/​edit#​gid=1727735074|this spreadsheet]] of Congressional Assistants to members of the tax committees was [[https://​www.facebook.com/​groups/​AmericanExpatriates/​permalink/​717143111785097/​|posted on Facebook]] (NB: it is not clear that anyone is maintaining this spreadsheet).
  
-====== Tax Cuts and Jobs Act (2017) ====== 
-===== Transition Tax ===== 
-The 2017 tax reform bill added section 965 to the Internal Revenue Code. This section was written overly broadly, and affects the local corporations of US expats, not just the intended targets of Apple, Google and Microsoft. 
  
-Blog posts on the transition tax: 
-  * FIXME 
  
-IRS Guidance: +
-  * [[https://​www.irs.gov/​newsroom/​irs-issues-guidance-on-transition-tax-on-foreign-earnings|IRS Issues Guidance on Transition Tax on Foreign Earnings]] 27 December 2017 +
-  * [[https://​www.irs.gov/​newsroom/​irs-issues-guidance-on-changes-in-accounting-periods-related-to-the-transition-tax|IRS Issues Guidance on Changes in Accounting Periods Related to the Transition Tax]] 13 February 2018 +
-  * [[https://​www.irs.gov/​pub/​irs-drop/​n-18-13.pdf]] FIXME +
-  * [[https://​www.irs.gov/​newsroom/​questions-and-answers-about-reporting-related-to-section-965-on-2017-tax-returns|Questions and Answers about Reporting Related to Section 965 on 2017 Tax Returns]] 13 March 2018 +
-  * [[https://​www.irs.gov/​newsroom/​irs-issues-additional-guidance-on-transition-tax-on-foreign-earnings-0|IRS Issues Additional Guidance on Transition Tax on Foreign Earnings]] 2 April 2018+
  
  
wiki/contents/us_tax/tax_reform.1525325795.txt.gz · Last modified: 2018/05/03 15:36 by karen
Driven by DokuWiki Recent changes RSS feed Valid CSS Valid XHTML 1.0