KPMG article: Proposal to end citizenship-based taxation for U.S. citizens living overseas
Proposed bill seeks to end citizenship-based taxation for U.S. citizens abroad.
U.S. Rep. Darin LaHood (R-Ill.) in December 2024 introduced the Residence-Based Taxation for Americans Abroad Act (H.R. 10468), which would change the current system under which all U.S. citizens are subject to U.S. income tax regardless of their country of residence. Passage of the bill is significantly uncertain, but if enacted, the bill would provide significant relief for qualifying U.S. citizens living abroad in relation to both their U.S. tax liability and their information-filing requirements.
Read a June 2025 article* prepared by KPMG LLP tax professionals that provides analysis of the bill’s provisions and implications.
*This article originally appeared in The Tax Adviser and is provided with permission.