Draft Bill Introduced in U.S. House for Residency-Based Taxation of Individuals
U.S. Congressman George Holding (R-NC) has introduced the Tax Fairness for Americans Abroad Act (Bill H.R. 7358), which would amend the Internal Revenue Code of 1986 to provide an alternative exclusion for nonresident citizens of the United States living abroad. The bill would allow U.S. citizens living/working overseas to elect to be treated as a qualified nonresident citizen, which provides f…
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