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United States · Bill · HR

H.R. 5432 (118th)

Tax Simplification for Americans Abroad Act

referredUnited States· United States Congress· EN

Introduced

13 September 2023

Last action

Status

Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Sponsors

Subjects

Discovery layer

Source updated

10 September 2024

Summary

Tax Simplification for Americans Abroad Act This bill directs the Internal Revenue Service to make available a new tax form for certain U.S. citizens living abroad. The form shall allow such individuals to demonstrate nonresidence, and declare foreign income, foreign taxes paid, and U.S. source income from retirement, pension and social security benefits. The bill also expands the types of income allowed as foreign earned income for purposes of the foreign earned income tax exclusion and sets forth requirements for reporting foreign financial assets.

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Documents

3 official files

Introduced in House (text)

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