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Is Residency Based Taxation on the Table?
Reports from Politico / Tax Notes suggest progress
Reports have emerged in the past 48 hours that Congressman George Holding is making progress on legislation proposing a roll out of Residency Based Taxation - a key development for Americans living overseas.
The reports emerged from an article published by Dylan Moroses on the TaxNotes.com website yesterday (June 18) which was highlighted by Bernie Becker writing for Politico.com - See Here. The TaxNotes.com article is only available to paying susbcribers, but Becker's notes suggest that Congressman Holding has a bill which would roll out something similar to Residency Based Taxation, and that the said bill is currently being looked at by the Joint Committee on Taxation.
Any bill would need to be reviewed in context, but the report certainly suggests that Holding - who acknowledged working with American Citizens Abroad - could follow up on comments he made at the end of 2017 which encouraged work on a Residency Based Taxation System.
What this space.