Purpose and Summary

Chamber: House

Introduced date: 2025-01-03

Bill 119 HR 33, also known as the Taiwan Taxation Act, aims to amend the Internal Revenue Code of 1986 to establish special tax rules for residents of Taiwan who earn income from sources within the United States. The bill recognizes the unique relationship between the United States and Taiwan and seeks to provide clarity and consistency in the taxation of Taiwanese residents with US income. Specifically, the bill outlines provisions for determining the tax liability of Taiwanese residents, including rules for calculating taxable income, deductions, and credits. It also addresses issues related to withholding taxes and reporting requirements for Taiwanese residents. Overall, the Taiwan Taxation Act aims to streamline the tax process for Taiwanese residents with US income and ensure fair and accurate taxation practices.

Recent Activity

Received in the Senate and Read twice and referred to the Committee on Finance.

Alternative Names

To amend the Internal Revenue Code of 1986 to provide special rules for the taxation of certain residents of Taiwan with income from sources within the United States.

United States-Taiwan Tax Agreement Authorization Act

United States-Taiwan Expedited Double-Tax Relief Act

To amend the Internal Revenue Code of 1986 to provide special rules for the taxation of certain residents of Taiwan with income from sources within the United States.

United States-Taiwan Tax Agreement Authorization Act

United States-Taiwan Expedited Double-Tax Relief Act

To amend the Internal Revenue Code of 1986 to provide special rules for the taxation of certain residents of Taiwan with income from sources within the United States.

United States-Taiwan Tax Agreement Authorization Act

United States-Taiwan Expedited Double-Tax Relief Act

To amend the Internal Revenue Code of 1986 to provide special rules for the taxation of certain residents of Taiwan with income from sources within the United States.

United States-Taiwan Tax Agreement Authorization Act

United States-Taiwan Expedited Double-Tax Relief Act

United States-Taiwan Tax Agreement Authorization Act

United States-Taiwan Expedited Double-Tax Relief Act

To amend the Internal Revenue Code of 1986 to provide special rules for the taxation of certain residents of Taiwan with income from sources within the United States.

United States-Taiwan Tax Agreement Authorization Act

United States-Taiwan Expedited Double-Tax Relief Act

To amend the Internal Revenue Code of 1986 to provide special rules for the taxation of certain residents of Taiwan with income from sources within the United States.

Associated Legislation

Adopting the Rules of the House of Representatives for the One Hundred Nineteenth Congress, and for other purposes.

Policy Areas

Taxation

Potential Impact

Accounting and auditing

Administrative law and regulatory procedures

Asia

Athletes

Congressional oversight

Department of the Treasury

Foreign and international corporations

Foreign property

Immigration status and procedures

Income tax rates

Interest, dividends, interest rates

Securities

Service industries

Taiwan

Tax administration and collection, taxpayers

Taxation of foreign income

U.S. and foreign investments

Wages and earnings

Sponsors and Supporters

Rep. Smith, Jason [R-MO-8]

Cosponsors and Supporters

Rep. Neal, Richard E. [D-MA-1]

Rep. Buchanan, Vern [R-FL-16]

Rep. Doggett, Lloyd [D-TX-37]

Rep. Smith, Adrian [R-NE-3]

Rep. Thompson, Mike [D-CA-4]

Rep. Kelly, Mike [R-PA-16]

Rep. Sánchez, Linda T. [D-CA-38]

Rep. LaHood, Darin [R-IL-16]

Rep. Sewell, Terri A. [D-AL-7]

Rep. Estes, Ron [R-KS-4]

Rep. DelBene, Suzan K. [D-WA-1]

Rep. Smucker, Lloyd [R-PA-11]

Rep. Chu, Judy [D-CA-28]

Rep. Hern, Kevin [R-OK-1]

Rep. Moore, Gwen [D-WI-4]

Rep. Miller, Carol D. [R-WV-1]

Rep. Beyer, Donald S. [D-VA-8]

Rep. Murphy, Gregory F. [R-NC-3]

Rep. Panetta, Jimmy [D-CA-19]

Rep. Fitzpatrick, Brian K. [R-PA-1]

Rep. Horsford, Steven [D-NV-4]

Rep. Tenney, Claudia [R-NY-24]

Rep. Suozzi, Thomas R. [D-NY-3]

Rep. Fischbach, Michelle [R-MN-7]

Rep. Moore, Blake D. [R-UT-1]

Rep. Van Duyne, Beth [R-TX-24]

Rep. Feenstra, Randy [R-IA-4]

Rep. Malliotakis, Nicole [R-NY-11]

Rep. Carey, Mike [R-OH-15]

Rep. Yakym, Rudy [R-IN-2]

Rep. Miller, Max L. [R-OH-7]

Rep. Gomez, Jimmy [D-CA-34]

Rep. Bean, Aaron [R-FL-4]

Rep. Moran, Nathaniel [R-TX-1]

Rep. Neal, Richard E. [D-MA-1]

Rep. Buchanan, Vern [R-FL-16]

Rep. Doggett, Lloyd [D-TX-37]

Rep. Smith, Adrian [R-NE-3]

Rep. Thompson, Mike [D-CA-4]

Rep. Kelly, Mike [R-PA-16]

Rep. Sánchez, Linda T. [D-CA-38]

Rep. LaHood, Darin [R-IL-16]

Rep. Sewell, Terri A. [D-AL-7]

Rep. Estes, Ron [R-KS-4]

Rep. DelBene, Suzan K. [D-WA-1]

Rep. Smucker, Lloyd [R-PA-11]

Rep. Chu, Judy [D-CA-28]

Rep. Hern, Kevin [R-OK-1]

Rep. Moore, Gwen [D-WI-4]

Rep. Miller, Carol D. [R-WV-1]

Rep. Beyer, Donald S. [D-VA-8]

Rep. Murphy, Gregory F. [R-NC-3]

Rep. Panetta, Jimmy [D-CA-19]

Rep. Fitzpatrick, Brian K. [R-PA-1]

Rep. Horsford, Steven [D-NV-4]

Rep. Tenney, Claudia [R-NY-24]

Rep. Suozzi, Thomas R. [D-NY-3]

Rep. Fischbach, Michelle [R-MN-7]

Rep. Moore, Blake D. [R-UT-1]

Rep. Van Duyne, Beth [R-TX-24]

Rep. Feenstra, Randy [R-IA-4]

Rep. Malliotakis, Nicole [R-NY-11]

Rep. Carey, Mike [R-OH-15]

Rep. Yakym, Rudy [R-IN-2]

Rep. Miller, Max L. [R-OH-7]

Rep. Gomez, Jimmy [D-CA-34]

Rep. Bean, Aaron [R-FL-4]

Rep. Moran, Nathaniel [R-TX-1]

Rep. Finstad, Brad [R-MN-1]

Rep. Houchin, Erin [R-IN-9]

Rep. Neal, Richard E. [D-MA-1]

Rep. Buchanan, Vern [R-FL-16]

Rep. Doggett, Lloyd [D-TX-37]

Rep. Smith, Adrian [R-NE-3]

Rep. Thompson, Mike [D-CA-4]

Rep. Kelly, Mike [R-PA-16]

Rep. Sánchez, Linda T. [D-CA-38]

Rep. LaHood, Darin [R-IL-16]

Rep. Sewell, Terri A. [D-AL-7]

Rep. Estes, Ron [R-KS-4]

Rep. DelBene, Suzan K. [D-WA-1]

Rep. Smucker, Lloyd [R-PA-11]

Rep. Chu, Judy [D-CA-28]

Rep. Hern, Kevin [R-OK-1]

Rep. Moore, Gwen [D-WI-4]

Rep. Miller, Carol D. [R-WV-1]

Rep. Beyer, Donald S. [D-VA-8]

Rep. Murphy, Gregory F. [R-NC-3]

Rep. Panetta, Jimmy [D-CA-19]

Rep. Fitzpatrick, Brian K. [R-PA-1]

Rep. Horsford, Steven [D-NV-4]

Rep. Tenney, Claudia [R-NY-24]

Rep. Suozzi, Thomas R. [D-NY-3]

Rep. Fischbach, Michelle [R-MN-7]

Rep. Moore, Blake D. [R-UT-1]

Rep. Van Duyne, Beth [R-TX-24]

Rep. Feenstra, Randy [R-IA-4]

Rep. Malliotakis, Nicole [R-NY-11]

Rep. Carey, Mike [R-OH-15]

Rep. Yakym, Rudy [R-IN-2]

Rep. Miller, Max L. [R-OH-7]

Rep. Gomez, Jimmy [D-CA-34]

Rep. Bean, Aaron [R-FL-4]

Rep. Moran, Nathaniel [R-TX-1]

Rep. Finstad, Brad [R-MN-1]

Rep. Houchin, Erin [R-IN-9]

Rep. Lawler, Michael [R-NY-17]

Rep. Neal, Richard E. [D-MA-1]

Rep. Buchanan, Vern [R-FL-16]

Rep. Doggett, Lloyd [D-TX-37]

Rep. Smith, Adrian [R-NE-3]

Rep. Thompson, Mike [D-CA-4]

Rep. Kelly, Mike [R-PA-16]

Rep. Sánchez, Linda T. [D-CA-38]

Rep. LaHood, Darin [R-IL-16]

Rep. Sewell, Terri A. [D-AL-7]

Rep. Estes, Ron [R-KS-4]

Rep. DelBene, Suzan K. [D-WA-1]

Rep. Smucker, Lloyd [R-PA-11]

Rep. Chu, Judy [D-CA-28]

Rep. Hern, Kevin [R-OK-1]

Rep. Moore, Gwen [D-WI-4]

Rep. Miller, Carol D. [R-WV-1]

Rep. Beyer, Donald S. [D-VA-8]

Rep. Murphy, Gregory F. [R-NC-3]

Rep. Panetta, Jimmy [D-CA-19]

Rep. Fitzpatrick, Brian K. [R-PA-1]

Rep. Horsford, Steven [D-NV-4]

Rep. Tenney, Claudia [R-NY-24]

Rep. Suozzi, Thomas R. [D-NY-3]

Rep. Fischbach, Michelle [R-MN-7]

Rep. Moore, Blake D. [R-UT-1]

Rep. Van Duyne, Beth [R-TX-24]

Rep. Feenstra, Randy [R-IA-4]

Rep. Malliotakis, Nicole [R-NY-11]

Rep. Carey, Mike [R-OH-15]

Rep. Yakym, Rudy [R-IN-2]

Rep. Miller, Max L. [R-OH-7]

Rep. Gomez, Jimmy [D-CA-34]

Rep. Bean, Aaron [R-FL-4]

Rep. Moran, Nathaniel [R-TX-1]

Rep. Finstad, Brad [R-MN-1]

Rep. Houchin, Erin [R-IN-9]

Rep. Lawler, Michael [R-NY-17]

Rep. Goldman, Craig [R-TX-12]

Rep. Gottheimer, Josh [D-NJ-5]

Rep. Carter, Earl L. "Buddy" [R-GA-1]

Rep. Stanton, Greg [D-AZ-4]

Rep. Nunn, Zachary [R-IA-3]

Rep. Johnson, Dusty [R-SD-At Large]

Rep. Barr, Andy [R-KY-6]

Rep. Gooden, Lance [R-TX-5]

Rep. Neal, Richard E. [D-MA-1]

Rep. Buchanan, Vern [R-FL-16]

Rep. Doggett, Lloyd [D-TX-37]

Rep. Smith, Adrian [R-NE-3]

Rep. Thompson, Mike [D-CA-4]

Rep. Kelly, Mike [R-PA-16]

Rep. Sánchez, Linda T. [D-CA-38]

Rep. LaHood, Darin [R-IL-16]

Rep. Sewell, Terri A. [D-AL-7]

Rep. Estes, Ron [R-KS-4]

Rep. DelBene, Suzan K. [D-WA-1]

Rep. Smucker, Lloyd [R-PA-11]

Rep. Chu, Judy [D-CA-28]

Rep. Hern, Kevin [R-OK-1]

Rep. Moore, Gwen [D-WI-4]

Rep. Miller, Carol D. [R-WV-1]

Rep. Beyer, Donald S. [D-VA-8]

Rep. Murphy, Gregory F. [R-NC-3]

Rep. Panetta, Jimmy [D-CA-19]

Rep. Fitzpatrick, Brian K. [R-PA-1]

Rep. Horsford, Steven [D-NV-4]

Rep. Tenney, Claudia [R-NY-24]

Rep. Suozzi, Thomas R. [D-NY-3]

Rep. Fischbach, Michelle [R-MN-7]

Rep. Moore, Blake D. [R-UT-1]

Rep. Van Duyne, Beth [R-TX-24]

Rep. Feenstra, Randy [R-IA-4]

Rep. Malliotakis, Nicole [R-NY-11]

Rep. Carey, Mike [R-OH-15]

Rep. Yakym, Rudy [R-IN-2]

Rep. Miller, Max L. [R-OH-7]

Rep. Gomez, Jimmy [D-CA-34]

Rep. Bean, Aaron [R-FL-4]

Rep. Moran, Nathaniel [R-TX-1]

Rep. Finstad, Brad [R-MN-1]

Rep. Houchin, Erin [R-IN-9]

Rep. Lawler, Michael [R-NY-17]

Rep. Goldman, Craig [R-TX-12]

Rep. Gottheimer, Josh [D-NJ-5]

Rep. Carter, Earl L. "Buddy" [R-GA-1]

Rep. Stanton, Greg [D-AZ-4]

Rep. Nunn, Zachary [R-IA-3]

Rep. Johnson, Dusty [R-SD-At Large]

Rep. Barr, Andy [R-KY-6]

Rep. Gooden, Lance [R-TX-5]

Del. Plaskett, Stacey E. [D-VI]

Rep. Neal, Richard E. [D-MA-1]

Rep. Buchanan, Vern [R-FL-16]

Rep. Doggett, Lloyd [D-TX-37]

Rep. Smith, Adrian [R-NE-3]

Rep. Thompson, Mike [D-CA-4]

Rep. Kelly, Mike [R-PA-16]

Rep. Sánchez, Linda T. [D-CA-38]

Rep. LaHood, Darin [R-IL-16]

Rep. Sewell, Terri A. [D-AL-7]

Rep. Estes, Ron [R-KS-4]

Rep. DelBene, Suzan K. [D-WA-1]

Rep. Smucker, Lloyd [R-PA-11]

Rep. Chu, Judy [D-CA-28]

Rep. Hern, Kevin [R-OK-1]

Rep. Moore, Gwen [D-WI-4]

Rep. Miller, Carol D. [R-WV-1]

Rep. Beyer, Donald S. [D-VA-8]

Rep. Murphy, Gregory F. [R-NC-3]

Rep. Panetta, Jimmy [D-CA-19]

Rep. Fitzpatrick, Brian K. [R-PA-1]

Rep. Horsford, Steven [D-NV-4]

Rep. Tenney, Claudia [R-NY-24]

Rep. Suozzi, Thomas R. [D-NY-3]

Rep. Fischbach, Michelle [R-MN-7]

Rep. Moore, Blake D. [R-UT-1]

Rep. Van Duyne, Beth [R-TX-24]

Rep. Feenstra, Randy [R-IA-4]

Rep. Malliotakis, Nicole [R-NY-11]

Rep. Carey, Mike [R-OH-15]

Rep. Yakym, Rudy [R-IN-2]

Rep. Miller, Max L. [R-OH-7]

Rep. Gomez, Jimmy [D-CA-34]

Rep. Bean, Aaron [R-FL-4]

Rep. Moran, Nathaniel [R-TX-1]

Rep. Finstad, Brad [R-MN-1]

Rep. Houchin, Erin [R-IN-9]

Rep. Lawler, Michael [R-NY-17]

Rep. Goldman, Craig [R-TX-12]

Rep. Gottheimer, Josh [D-NJ-5]

Rep. Carter, Earl L. "Buddy" [R-GA-1]

Rep. Stanton, Greg [D-AZ-4]

Rep. Nunn, Zachary [R-IA-3]

Rep. Johnson, Dusty [R-SD-At Large]

Rep. Barr, Andy [R-KY-6]

Rep. Gooden, Lance [R-TX-5]

Del. Plaskett, Stacey E. [D-VI]

Committees and Subcommittees

Rules Committee

Ways and Means Committee

Variations and Revisions

Sophie Dillon