Search Results for keywords:"residence rules"

Search Results: keywords:"residence rules"

H. R. 364 — To amend the Internal Revenue Code of 1986 to modify the residence and source rules to provide for economic recovery in the possessions of the United States.
January 13, 2025
Status:Introduced in House
Congress:119
Words:576
H.R. 364, titled the “Territorial Tax Equity and Economic Growth Act of 2025”, aims to change certain rules in the U.S. tax code to support economic recovery in U.S. territories. It modifies the criteria for determining if someone is a bona fide resident of territories like...
Simple Explanation
H.R. 364 wants to change some tax rules to help places like Puerto Rico and Guam have more money for their communities. It focuses on where people live and how they make money to make sure these areas can grow and get better.
H. R. 365 — To amend the Internal Revenue Code of 1986 to modify the residence and source rules to provide for economic recovery in the possessions of the United States.
January 13, 2025
Status:Introduced in House
Congress:119
Words:270
H. R. 365 aims to amend the Internal Revenue Code of 1986 to change how residence and source rules are applied to help stimulate economic recovery in U.S. territories. The bill proposes modifying certain tax rules affecting income linked to offices or fixed business locations...
Simple Explanation
H. R. 365 is a plan to change some U.S. tax rules to help places like Puerto Rico and Guam make more money and grow their economies. It changes how we decide where money is coming from when people or businesses do things in those places, starting from the year 2025.

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