New Bill Removes Tax Incentives to Move Jobs, Profits Offshore
In its latest segment, the HBO show Last Week Tonight took a deep dive into corporate taxes and how many companies manage to avoid paying their fair share. ITEP's Richard Phillips discusses some of the segments key points.
A Taxing Headache from Congress
Just in time for tax day, the nonpartisan Congressional Budget Office is out with a new analysis of the Tax Cuts and Jobs Act with estimates that are worth a serious review.
Priced Out: How Anonymous Companies Contribute to the Rising Cost of Housing
Loss of affordable housing has been spurred by anonymous shell companies used to bid up prices while bad actors use property as a “bank” rather than a home.
  • More than 50 Organizations Urge Congress to End the Tax Preference for Shifting Jobs and Profits Offshore

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    WASHINGTON, D.C. – Today, more than 50 national organizations sent a letter urging members of Congress to co-sponsor the No Tax Breaks for Outsourcing Act, which would overhaul the new international tax system put in place by the Tax Cuts and Jobs Act to ensure that multinational corporations are no longer allowed to pay a lower tax rate on their offshore profits than they pay on their domestic profits.

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  • New Treasury Sanctions Are Unenforceable

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    WASHINGTON, D.C. — As the U.S. Treasury Department unveiled sanctions against five Iranian individuals Tuesday for providing “ballistic missile-related technical expertise to Yemen’s Huthis,” the Financial Accountability and Corporate Transparency (FACT) Coalition warned that the United States has failed to equip itself with the tools to enforce those sanctions.

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  • Crack Down on U.K.’s Offshore Territories Increases Pressure on U.S. to End Anonymous Companies

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    WASHINGTON, D.C. — Lawmakers in the United Kingdom voted Tuesday to require their offshore territories to establish systems by 2020 mandating companies to disclose their true owners at the time of formation.  The new rules, which will bring transparency to companies formed in notorious secrecy jurisdictions such as the Cayman Islands, Bermuda, and the British Virgin Islands, were welcomed by the Financial Accountability and Corporate Transparency (FACT) Coalition.

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