By Margaret Collins and Richard Rubin
| Bloomberg News April 30, 2013
WASHINGTON — The IRS reaches every corner of Charles Allard’s world.
The 48-year-old US citizen, who lives in Hong Kong and works for a financial services company, is among a group of Americans living abroad who are seizing the debate over a US tax code rewrite to push for changing a policy that taxes citizens’ income regardless of where it’s earned.
Allard is among more than 100 people who have written to an international working group of the House Ways and Means Committee, urging Congress to change the laws. It’s an uphill political climb, as they need to sway lawmakers with limited resources who have constituents pushing for other changes.
Current rules expose US citizens to double taxation and hefty penalties for mistakes, the letters say. Also, the system reduces competitiveness because many companies avoid US workers because of the added costs they may have to cover, some of those living abroad said in the letters.
I guess that this is an older article from Bloomberg, but I like the new title. Let it be heard, again!