Tax Notes - Expats Eye Pope’s Tax Woes as Opportunity to Ditch Worldwide Tax
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As an added bonus, the LaHood proposal would also largely render the Hurd bill unnecessary, Brandon Mitchener of Tax Fairness for Americans Abroad told Tax Notes August 1.
LaHood has not yet reintroduced that bill in the current Congress, but supporters say that’s because the bill is still awaiting a score from the Joint Committee on Taxation. Depending on what the JCT finds — like how close to revenue neutral it gets — advocates say the bill may be further refined before it’s reintroduced.
“Fingers crossed, that might come this month sometime,” Serrato said of the JCT’s analysis.
Mitchener said the LaHood proposal looks largely the same now as it did when it was introduced last year, with some minor changes and additions to close potential loopholes that were brought to the attention of supporters after the draft was released. “Very easy fix, I understand,” he added.
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