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Should be a rule if you post a story about a law that doesn’t include a link to the actual law you should post the link.
https://www.finance.senate.gov/imo/media/doc/the_tax_relief_for_american_families_and_workers_act_of_2024_technical_summary.pdf
For anyone with questions - it’s not a long read, I do have more questions after reading. Like why was a full part about Taiwan residency? I read through it twice and didn’t understand why there exclusively.
I'm thinking it's a way of treating Taiwan more like other countries we deal with, rather than treating them as a part of China.
"Subtitle B – United States-Taiwan Tax Agreement Authorization Act Because the U.S. is unable to enter into a bilateral tax treaty with Taiwan due to Taiwan’s unique status, subtitle B provides authorization to the President to negotiate and enter into a U.S.-Taiwan tax agreement that includes provisions generally conforming with those customarily contained in U.S. tax treaties."