0
0
0
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.
2/4/2025, 6:02 PM
Summary of Bill HR 33
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.
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.
Read the Full Bill
Current Status of Bill HR 33
Bill HR 33 is currently in the status of Passed in House since January 15, 2025. Bill HR 33 was introduced during Congress 119 and was introduced to the House on January 3, 2025. Bill HR 33's most recent activity was Received in the Senate and Read twice and referred to the Committee on Finance. as of January 16, 2025
Bipartisan Support of Bill HR 33
Total Number of Sponsors
17Democrat Sponsors
0Republican Sponsors
17Unaffiliated Sponsors
0Total Number of Cosponsors
245Democrat Cosponsors
87Republican Cosponsors
158Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 33
Primary Policy Focus
TaxationPotential Impact Areas
- 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
Alternate Title(s) of Bill HR 33
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.
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.
Comments
Sol Roach
599
1 year ago
Why do they want to change the tax rules for Taiwan residents in the US? Who benefits from this? #confused #taxes #HRBill33
Sponsors and Cosponsors of HR 33
Latest Bills
Reorganizing Government Act of 2025
Bill HR 1295February 14, 2026
ELO Realignment and Strategic Engagement Reform Act of 2026
Bill HR 7574February 14, 2026
Farm, Food, and National Security Act of 2026
Bill HR 7567February 14, 2026
Expressing the condolences of the House of Representatives and honoring the memory of the victims of the mass shooting in Aurora, Illinois, on February 15, 2019.
Bill HRES 1066February 14, 2026
Condemning and censuring President Donald Trump.
Bill HRES 1065February 14, 2026
To amend the Internal Revenue Code of 1986 to exclude automobiles from being treated as collectibles for purposes of capital gains tax, and for other purposes.
Bill HR 7582February 14, 2026
To allow Americans to earn paid sick time so that they can address their own health needs and the health needs of their families.
Bill HR 7531February 14, 2026
To address the needs of workers in industries likely to be impacted by rapidly evolving technologies.
Bill HR 7585February 14, 2026
To amend the Food, Conservation, and Energy Act of 2008 with respect to the Gus Schumacher Nutrition Incentive Program and the sustainability of such program, and for other purposes.
Bill HR 7571February 14, 2026
Supporting the goals and ideals of "Career and Technical Education Month".
Bill HRES 1063February 14, 2026
Adopting the Rules of the House of Representatives for the One Hundred Nineteenth Congress, and for other purposes.
Bill HRES 5January 30, 2025