Search Results: keywords:"foreign tax credit"

  • S. 4098 — To amend the Internal Revenue Code of 1986 to modify the treatment of foreign corporations, and for other purposes.
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    Status:Introduced in Senate
    Words:7,244

    The “Corporate Tax Dodging Prevention Act” aims to amend the Internal Revenue Code to adjust how taxes apply to foreign corporations and to ensure that foreign and domestic income are taxed equally. The bill proposes a progressive corporate tax rate, modifies rules for tax credits and...

    Simple Explanation

    The bill wants to make sure big companies from other countries pay taxes just like companies in the United States, by changing how much tax they pay based on their income and stopping certain old rules that let them pay less.

  • H. R. 7933 — To amend the Internal Revenue Code of 1986 to modify the treatment of foreign corporations, and for other purposes.
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    Status:Introduced in House
    Words:7,242

    H.R. 7933, titled the “Corporate Tax Dodging Prevention Act,” aims to amend the Internal Revenue Code to ensure fair taxation for foreign corporations and enhance U.S. corporate tax policies. It proposes restoring progressive corporate tax rates, equalizing tax rates on domestic and foreign...

    Simple Explanation

    The Corporate Tax Dodging Prevention Act is a bill that wants to make sure big companies pay their fair share of taxes by changing some rules so they can't hide money in other countries to pay less. It also aims to make certain foreign companies pay like they are in the U.S. if they are managed from here.

  • H. R. 9843 — To amend the Internal Revenue Code of 1986 to incentivize the divestiture of certain securities connected to the People’s Republic of China.
    Status:Introduced in House
    Words:2,128

    H.R. 9843, known as the "Patriotic Investment Act," aims to amend the Internal Revenue Code of 1986 to encourage the sale of certain securities linked to the People’s Republic of China. The bill proposes treating gains from these securities as ordinary income and subjecting them to the...

    Simple Explanation

    This bill wants to make people pay more taxes if they own certain money-related things from China, so they will want to sell them. It hopes to make these things less interesting to own by making any profits from them cost more in taxes.