Democrats Abroad continues its work pushing the House Ways & Means Committee to exempt American business owners abroad from the “transition taxes” built into the 2017 Tax Cuts and Jobs Act.
The Ways & Means Committee is holding a series of hearings on tax reform, the latest (May 23 2018) of which is focussing on small business. Click here for more information.
Democrats Abroad made this submission to the hearing. It draws attention to the material harm done by the transition taxes built into the Tax Cuts & Jobs Act that mistakenly hit Americans abroad who have small to medium sized businesses in their countries of residence. It also outlines our proposed remedy: an exemption from the tax for bona fide non-resident Americans.
All Americans abroad who own businesses impacted by the transition taxes are encouraged to 1) use this grassroots campaign tool to write to relevant lawmakers and regulators to demand a remedy, and 2) make your own submission to the Ways & Means Committee hearing on tax reform and small business.
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