The House Ways & Means Committee is holding a ‘Hearing Seiries on Tax Reform: Growing Our Economy and Creating Jobs.’ They are collecting statements for the congressional record, and this is a great opportunity to provide testimony as to the unintended and potentially disastrous consequences of the Repatriation Tax and GILTI tax regime. Comments must be submitted by May 30, 2018.
If you would like to submit a testimony about the harm these taxes will do to your business, then you can email a letter to them. The guidelines can be found here (https://waysandmeans.house.gov/committeesubmissions/), but they are also listed below:
- Submissions must be emailed to firstname.lastname@example.org
- Submissions include the email and a Word document. The Word document may be no longer than 10 pages in length. The testimony should be provided via the Word document. (See below for a draft document.)
- Your submission should include a list of all clients, persons and/or organizations on whose behalf you are writing. The name, company, address, telephone, and fax numbers of each witness must be included in the body of the email. Please exclude any personal identifiable information in the attached Word document.
You can find a draft letter here: House Ways and Means – Repatriation Tax Sample Letter . Please adjust it to suit your story.
Republicans Overseas submitted a presentation to the White House explaining the Repatriation Tax, why it is so disastrous for overseas Americans, and potential remedies. You can read it here: http://republicansoverseas.com/wp-content/uploads/RO-Transition-Tax-Overview.pdf
Republicans Overseas continues to work towards implementing Territorial Taxation for Individuals. The passage of TTFI would end the double taxation of overseas Americans by ending citizenship-based taxation. The passage of TTFI would also connect individual taxation with corporate taxation by putting both on a territorial basis. We hope to soon share news on proposed TTFI legislation.
CEO Republicans Overseas