The Democrats Abroad Taxation Task Force visited Congressional offices in Washington D.C. on January 29 and Feb 3-5 to continue conversations on tax reform for Americans abroad. This report serves as a summary of the meetings attended.
Overall achievements from the door knock included:
- 21 meetings over 4 days
- 7 Democratic offices
- 14 Republican offices
- 12 House offices
- 8 Senate offices
- 3 non-Congressional meetings
Top issues for discussion included:
- Residency Based Taxation
- FBAR reform
- GILTI and its impact on small and medium sized American business owners abroad
- Barriers to being able to open a US bank account from abroad
Highlights from the meetings include:
- Bipartisan and bicameral interest in the Residence-Based Taxation for Americans Abroad Act. Discussions focused on whether the the bill would be included in the reconciliation package which is dependent on the "score" of the bill which is currently being worked on by the Joint Committee on Taxation.
- Bipartisan and bicameral interest in reforming the FBAR for Americans abroad given recent focus on government efficiency.
- Ways & Means Committee members have started work on GILTI reform given its provisions expire at the end of this year. Congressional staff thanked us for raising awareness of the harm GILTI posed to small and medium sized American business owners abroad since 2018 and there is interest in putting in place a residency requirement so small and medium sized American business owners abroad would no longer be subject to GILTI tax or filings.
The Taxation Task Force will return to Washington DC in June to continue conversations and work on progressing tax legislation for Americans abroad.
5 things you can do to help us fix the tax and financial access issues for Americans abroad:
- Register to vote at votefromabroad.org and cast your ballot in elections taking place in your state this year.
- Sign up for the Taxation Task Force mailing list, bookmark our emails from [email protected], and take action everytime we email you. (We don't send emails unless absolutely necessary, so it's worth reading when we do email you!)
- Submit your feedback on the American Abroad Tax Administration Bill instructions here (deadline is March 31!)
- Ask your House rep to co-sponsor the Residence-Based Taxation for Americans Abroad Act when it is reintroduced this year instructions here.
- Ask your House rep to join the Americans Abroad Caucus