HR 2740 · 99th Congress · Taxation
Tax Treatment of Americans Abroad Act
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to House Committee on Ways and Means.(1985-06-12)
Plain Language Summary
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Tax Treatment of Americans Abroad Act - Amends the Internal Revenue Code to exclude from the gross income of certain U.S. citizens and residents abroad: (1) foreign earned income; (2) U.S. earned income attributable to a temporary presence in this country not exceeding a total of 183 days during the taxable year; (3) other income from sources without the United States; (4) other U.S. income not effectively connected with a U.S. trade or business; (5) U.S. capital gain net income while temporarily present in the United States; and (6) U.S. real property interest gain. Requires the U.S. citizen to establish the fact that he or she has been a bona fide resident of a foreign country or countries for an uninterrupted period which includes an entire year or requires a U.S. citizen or resident to be present in a foreign country or countries during at least 510 full days during any period of 18 consecutive months. Sets forth definitions and other special rules relating to the exclusion of income of U.S. citizens and residents abroad.…
Summarized by Claude AI · Non-partisan · For informational purposes only