RELEASE: REP. HILL APPLAUDS PASSAGE OF LEGISLATION WHICH PROTECTS AMERICAN HOSTAGES FROM FINANCIAL PENALTIES
WASHINGTON, D.C.,
November 21, 2024
WASHINGTON, D.C. – Rep. French Hill (AR-02), Co-Chair of the Hostage Task Force in the House, today released the following statement after the House passed H.R. 9495, the Stop Terror-Financing and Tax Penalties on American Hostages Act, which incorporates Rep. Hill’s language that provides financial relief to Americans wrongfully detained abroad.
“After suffering an unfathomable experience as a hostage or wrongful detainee, the last thing Americans who were held against their will should receive is a notice from their own government telling them they owe penalties for taxes missed under circumstances far beyond their control. I am proud that this legislation eases that burden and corrects a crucial gap in our laws that punishes these Americans by burdening them with penalties and fines from the IRS after they return home.”
Further Background:
H.R. 9495 - Stop Terror-Financing and Tax Penalties on American Hostages Act: This legislation postpones tax deadlines, refunds late penalties, and exempts forgiven debts from taxation for Americans who were wrongly or illegally detained abroad, helping ease this financial burden when they return. This bill also authorizes the IRS to revoke the tax-exempt status of any American nonprofit that is shown to provide material support to terrorist groups, ensuring these organizations cannot claim tax benefits while aiding our foreign adversaries. |
