Search Results: keywords:"tax avoidance"

  • H. R. 8895 — To amend the Internal Revenue Code of 1986 to provide that certain payments to foreign related parties subject to sufficient foreign tax are not treated as base erosion payments.
    Status:Introduced in House
    Words:639

    H.R. 8895 proposes an amendment to the Internal Revenue Code of 1986, which would change how certain payments to foreign related parties are treated. Specifically, the bill states that if the payments to these foreign parties are subject to a foreign income tax rate of at least 15%, they will...

    Simple Explanation

    H.R. 8895 is about a rule that says when companies pay money to their related companies in another country, and if that money gets taxed at least 15% in the other country, it won't be counted against them for certain tax calculations in the U.S. They want to make sure companies and the people who collect taxes understand exactly what they need to do, but it might be a bit tricky to figure out.

  • S. 4275 — To amend the Internal Revenue Code of 1986 to modify the rules relating to inverted corporations.
    Status:Introduced in Senate
    Words:1,347

    The bill S. 4275 aims to modify the Internal Revenue Code of 1986 to address the issue of "inverted corporations." An inverted corporation is a company that shifts its headquarters overseas to avoid paying U.S. taxes while still maintaining significant business operations in...

    Simple Explanation

    The bill S. 4275 wants to stop companies from pretending to be in another country just so they pay less in taxes while still doing a lot of work in the U.S. It says these companies should still be seen as American if they do a lot of work here or buy a lot of things from another U.S. company.

  • H. R. 8435 — To amend the Internal Revenue Code of 1986 to treat certain price protection payments as eligible rollover distributions, and for other purposes.
    Status:Introduced in House
    Words:928

    H. R. 8435 aims to modify the Internal Revenue Code of 1986 to classify certain price protection payments as eligible rollover distributions. This change affects payments made under employee stock ownership plans for plan years ending before January 1, 2025, and after...

    Simple Explanation

    H.R. 8435 wants to change some tax rules so that when people who have special stock plans at work leave their jobs, they can easily save certain payments in a different tax-friendly account. Also, it means that even if these plans seem to help bosses more than regular workers, it's okay by the law.

  • H. R. 9956 — To amend the Internal Revenue Code of 1986 to provide for the proper tax treatment of personal service income earned in pass-thru entities.
    Status:Introduced in House
    Words:8,644

    The bill H. R. 9956 aims to change how personal service income earned through pass-thru entities is taxed. It focuses on investments and partnerships, seeking to treat certain gains and income that partners earn in these situations as ordinary income rather than capital...

    Simple Explanation

    H. R. 9956 wants to change the rules so that people who earn money by working with certain business arrangements pay taxes like regular workers instead of getting special lower rates. This means they might have to pay more taxes on some of their money.