Trump's Proposal to Eliminate Double Taxation for Expats Under ACA
Monday, 14 October 2024, 06:36
Trump's Support for Expats Amid ACA Challenges
For two decades, Americans abroad have been advocating for a transition to residence-based taxation. Under current regulations, many are burdened with double taxation on their earnings.
Impact of Trump’s Promise
The recent statement from Trump signals a potential shift in policy that could alleviate financial pressures on expats. Simultaneously, there is pressure on Vice-President Kamala Harris to support similar legislation.
- Americans living abroad
- Double taxation concerns
- Residence-based taxation advocacy
- IRS penalties and audits
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.