In a letter to Representatives Claudia Tenney (R-NY), Dina Titus (D-NV) and Donald Beyer (D-VA), the American Institute of CPAs (AICPA) commended the legislators’ bipartisan leadership in introducing H.R. 9496, the End Penalties on American Hostages Act.
This bill would provide U.S. nationals who have been unlawfully detained or held hostage abroad with tax administration relief for them and their spouses.
The AICPA emphasizes the guiding principle of fairness, consistency and sound tax administration in its support for this legislation, noting that times of severe hardship such as these should be afforded broad tax penalty relief.
“The AICPA recognizes the overwhelming circumstances that American hostages and their families face – this bill is simply removing one more unnecessary obstacle and worry for our fellow Americans during an extraordinarily difficult time. This bill extends the same penalty relief to these families that is already available to victims of natural disasters and active-duty military, and the AICPA is proud to endorse this bill,” said Daniel Hauffe, Senior Manager for Tax Policy & Advocacy with the AICPA.
“We applaud the House Ways and Means Committee for advancing this important proposal and look forward to its passage by the full House of Representatives
Sign in to get access to this free resource, and all of our whitepapers and reports.
Download this content today!
Register Now Already registered? Click here to Log In
Tags: Hostage, Income Taxes, IRS, tax relief, Taxes
