continued threat to foreign earned income exclustion

From: antje.lewis@aon.at
Category: Taxes
Date: 24 Nov 2003
Time: 07:13:33 -0500

Comments

The American Malaysian Chamber of Commerce (http://www.amcham.com.my/update/21_news1.htm comments: "As you know, section 911 was targeted for elimination during debate on the since-enacted Jobs and Growth Tax Relief Reconciliation Act of 2003 (signed into law on May 28, 2003). While in the end, section 911 was NOT eliminated as part of that law, renewed attacks are certain to occur. The foreign sales corporation legislation stands a good chance of affording the next opportunity. The hearings will help establish a record of what should or should not be addressed as part of that legislation, which is why comments from ALL parties in support of section 911 will prove vital to the Chamber’s effort. Finance Committee Chairman Grassley looks like he will try to use the pending FSC-ETI legislation to repeal the foreign income exclusion. He has indicated that there will be a second hearing. That will afford a second opportunity for submission of comments. However, the second hearing has not been scheduled as of yet."