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Foreign Money Transfers: Investigation into Tax Evasion Schemes.

This law mandates a detailed government investigation into foreign government programs that might be helping individuals evade US federal taxes. The goal is to identify programs designed to bypass US tax and reporting laws, determine their financial scope, and propose new enforcement policies. Citizens who send money abroad may see future changes in reporting requirements aimed at ensuring tax compliance and fairness.
Key points
The US government will study foreign programs supporting money transfers (remittances) to determine if they facilitate US tax evasion.
The investigation will lead to policy recommendations for new regulations concerning international money transfers and tax reporting.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_5978
Sponsor: Rep. Self, Keith [R-TX-3]
Process start date: 2025-11-07
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Foreign Remittance Accountability and Transparency Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_5978.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-11-07.

What are the main provisions?

Key points include:

  • The US government will study foreign programs supporting money transfers (remittances) to determine if they facilitate US tax evasion.
  • The investigation will lead to policy recommendations for new regulations concerning international money transfers and tax reporting.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Self, Keith [R-TX-3].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Taxes