Tax Notes – Edward A. Zelinsky “Simplifying Income Tax Reporting for Americans Abroad” (January 21, 2022)

Edward A. Zelinsky has published an article on Tax Notes, titled “Simplifying Income Tax Reporting for Americans Abroad”. The article begins as follows:

The Tax Simplification for Americans Abroad Act (H.R. 6057), introduced by Rep. Donald S. Beyer Jr., D-Va.,¹ would amend the Internal Revenue Code to require the IRS to simplify the income tax reporting requirements for many American citizens living outside the borders of the United States. The policy reflected in H.R. 6057 is compelling: The tax compliance burden for U.S. citizens living abroad can and should be reduced.

However, amending the code is not necessary to achieve this simplification. The IRS can itself accomplish the simplification sought by H.R. 6057. Hopefully, the introduction of this legislation will spur the IRS, on its own initiative, to streamline the income tax reporting requirements for U.S. citizens who reside abroad. A side benefit of that effort would be tax reporting simplification for U.S. citizens living at home.

Click here to see the full article : Simplifying Income Tax Reporting for Americans Abroad

Posted by Isabella King, Associate Editor, Wealth Strategies Journal.