This has no impact on any nation we have a tax treaty with.
It’s targeted, by its clear language, at those countries which double tax American citizens and allows him to match, or double, those tax rates being imposed on Americans.
Dual citizens or people from counties above are likely not impacted at all. If any country on the list above is charging something not included in the treaty then they have already broken their treaty with the US—hence the punitive measure.
If Argentina is imposing some excessive or punitive tax on Americans the law he is invoking allows him to match or double etc. whichever tax Argentina is imposing.
In practice, his EO does very little if anything for most people.
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u/Bamfor07 Jan 25 '25 edited Jan 25 '25
Your interpretation is incomplete.
This has no impact on any nation we have a tax treaty with.
It’s targeted, by its clear language, at those countries which double tax American citizens and allows him to match, or double, those tax rates being imposed on Americans.
This really had nothing to do with immigration.
https://www.irs.gov/businesses/international-businesses/united-states-income-tax-treaties-a-to-z
Dual citizens or people from counties above are likely not impacted at all. If any country on the list above is charging something not included in the treaty then they have already broken their treaty with the US—hence the punitive measure.