The FACT Coalition sent a letter to the Financial Accounting Standards Board (FASB) to urge them to require companies to provide a complete picture of their offshore operations by requiring full disclosure of key financial, tax, and operational data on a country-by-country basis. The full letter can be read below or downloaded here.
The FACT Coalition sent a letter on April 30, 2018 to the U.S. Treasury Department opposing the creation of a national security exception for CbC Reporting Requirements. The full letter can be read below or downloaded here.
Gary Kalman, the executive director of the Financial Accountability and Corporate Transparency (FACT) Coalition, testified in front of the U.S. House of Representatives Committee on Financial Services Subcommittee on Financial Institutions and Consumer Credit on Friday, April 27, 2018 at a hearing regarding the implementation of the Financial Crimes Enforcement Network’s (FinCEN) rule on Customer Due Diligence Requirements for Financial Institutions.
Just in time for tax day, the nonpartisan Congressional Budget Office is out with a new analysis of the Tax Cuts and Jobs Act. It is one of the many reminders that, as we file this year, we are already thinking about next year, thanks to the recent rewrite of the nation’s tax laws.
The CBO weighed in with estimates that are worth a serious review. They looked at, among other provisions, the international corporate tax changes and attempted to answer these questions: Will the new rules stop corporations from using accounting gimmicks to shift profits offshore? Will the law stop the gaming?
The Financial Accountability and Corporate Transparency Coalition (FACT Coalition) sent a letter to House and Senate Committees on Appropriation calling for an additional $495 Million in funding for the IRS to Implement TCJA. The full letter can be read below or downloaded here.
The Financial Accountability and Corporate Transparency Coalition (FACT Coalition) testified in front of the Senate Judiciary Committee at a hearing on True Incorporation Transparency for Law Enforcement Act or TITLE Act, S. 1454 which would end the abuse of anonymous shell companies by simply requiring companies to list the beneficial owner at the time of corporate formation. The full testimony can be read below or downloaded here.
