US Congress House Bill 2054 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 4-0)
Status: Introduced on April 6 2017 - 25% progression, died in committee
Action: 2017-04-06 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

To repeal the violation of sovereign nations' laws and privacy matters. This bill amends the Internal Revenue Code, with respect to tax administration requirements for foreign-source income and assets, to repeal: (1) withholding requirements for payments to foreign financial institutions and other foreign entities, (2) information reporting for foreign financial assets, (3) penalties for underpayments of tax attributable to undisclosed foreign financial assets, (4) reporting requirements for shareholders of a passive foreign investment company and U.S. owners of foreign trusts, and (5) the additional penalty for failure to file required notices and information returns for certain foreign trusts.

To repeal the violation of sovereign nations' laws and privacy matters.

Rep. Mark Meadows [R-NC]

Rep. Mark Sanford [R-SC]

Rep. David Schweikert [R-AZ]

Rep. Bill Posey [R-FL]

Date	Chamber	Action
2017-04-06	House	Referred to the House Committee on Ways and Means.
2017-04-06	House	Introduced in House

SB869 (Same As) 2017-04-06 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/2054/all-info
Text	https://www.congress.gov/115/bills/hr2054/BILLS-115hr2054ih.pdf