US HB5935 | 2015-2016 | 114th Congress
Status
Spectrum: Partisan Bill (Republican 5-0)
Status: Introduced on September 6 2016 - 25% progression, died in committee
Action: 2016-09-06 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on September 6 2016 - 25% progression, died in committee
Action: 2016-09-06 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
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.
Title
To repeal the violation of sovereign nations' laws and privacy matters.
Sponsors
Rep. Mark Meadows [R-NC] | Rep. Mick Mulvaney [R-SC] | Rep. Jeff Duncan [R-SC] | Rep. David Schweikert [R-AZ] |
Rep. Mark Sanford [R-SC] |
History
Date | Chamber | Action |
---|---|---|
2016-09-06 | House | Referred to the House Committee on Ways and Means. |
2016-09-06 | House | Introduced in House |
Subjects
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/114th-congress/house-bill/5935/all-info |
Text | https://www.congress.gov/114/bills/hr5935/BILLS-114hr5935ih.pdf |