From Shadow Raider:
Sorry, folks, the big news didn’t come today. The draft only deals with corporations.
However, the end of the summary says:
“The staff discussion draft does not address the international tax rules addressing individuals, whether for U.S. citizens living overseas or foreign nationals moving to the United States. The Chairman’s staff is considering reforms to simplify the rules in this area while appropriately taxing such individuals. Comments are requested regarding the scope and mechanics of reforms in this area.”
“All comments should be submitted to email@example.com. While comments will be accepted at any time, the staff requests comments by January 17, 2014, in order to be able to give them full consideration.”
Sigh. All right, so they haven’t decided what to do about individuals yet. I suppose we should send the same or similar comments as those sent to the Ways and Means Committee earlier this year. This time it’s to the Senate Finance Committee. I’m planning to send them my latest suggestions, with perhaps some updates.
I know this is frustrating, but at least they mentioned the topic and are looking for detailed ideas.
I think this news should be in a new thread.