H. R. 8873 proposes changes to the Internal Revenue Code of 1986, specifically offering exceptions to certain financial reporting requirements for Americans living abroad. The bill aims to exclude certain foreign accounts from being reported by both foreign financial...
Simple Explanation
H. R. 8873 is like a rule change that helps people who live in other countries not have to fill out as many forms about their money kept in banks over there. It makes things simpler for these people so they don't have to worry about complicated money rules.