HR. 858In Committee
REVIVE VI Act
Allows certain U.S. shareholders to exclude qualified Virgin Islands service income from GILTI calculations for federal tax purposes and directs IRS guidance
Plain-English overview
What this bill does
Allows certain U.S. shareholders to exclude qualified Virgin Islands service income from GILTI calculations for federal tax purposes and directs IRS guidance
Key points
- Require IRS guidance
- Allow Virgin Islands income exclusion
Current status
Where it stands
Status
In Committee
Latest action
2025-01-31 — Referred to the House Committee on Ways and Means.
Related context
Topics and policy areas
undefinedTaxation