Take Action Donate

Close Tax Loopholes

There is widespread agreement, across the political spectrum, that the gaming of the tax code by multinational corporations is a problem. When profits and jobs are shipped offshore, we not only harm the U.S. economy, we fuel a tax haven industry that drains wealth around the world. We seek to fix the problem of large, well-connected interests gaming the tax system.

Apple Ruling Puts Emphasis on Need to End ‘Deferral’—the Biggest Tax Dodge

Administration and Congress Should Focus on Collecting the Remaining $51.5 Billion that Apple Owes American Taxpayers
U.S. corporations woke up today to find that the European Commission ruled that Apple must re-pay Ireland roughly $14.5 billion it provided in illegal tax breaks.

According to The Wall Street Journal:
The European Union’s antitrust regulator has demanded that Ireland recoup roughly €13 billion ($14.5 billion) in taxes from Apple Inc., after ruling that a deal with Dublin allowed the company to avoid almost all corporate tax across the entire bloc for more than a decade—a move that could intensify a feud between the EU and the U.S. over the bloc’s tax probes into American companies.
With all of the finger pointing and spin, it’s important to take stock of the facts.

Let’s be clear—Apple’s pretense that it is a good corporate citizen that pays its taxes is now over.

Read More

Experts Troubled by Treasury Secretary Taking on “Role of Tax Lobbyist” for Apple

Statement by FACT Executive Director Gary Kalman
WASHINGTON, DC – U.S. Treasury Secretary Jack Lew is traveling to Europe this week for, among other reasons, the purpose of talking with European Commission officials to argue against invalidating a special tax deal that allows Apple to direct tens of billions of dollars in worldwide revenues to Ireland and pay a tax rate in the range of 1%.

Read More

FACT Comments to Treasury/IRS in Support of Proposed Earnings Stripping Rule

Rule Would Help Address Problem of Corporate Tax Inversions
The FACT Coalition submitted comments in support of a proposal from the U.S. Department of the Treasury to combat an egregious corporate tax avoidance technique known as earnings stripping.  The rule is one of two Treasury proposals aimed at combatting so-called corporate tax inversions.  FACT also submitted comments supporting the other proposal, which targets “serial inverters.”

Read More

FACT Comments to Treasury/IRS in Support of Proposed ‘Serial Inverter’ Rule

Rule Would Help Address Problem of Corporate Tax Inversions
The FACT Coalition submitted comments in support of a proposal from the U.S. Department of the Treasury to combat an egregious corporate tax avoidance technique known as serial inverters.  The rule is one of two Treasury proposals aimed at combatting so-called corporate tax inversions.  FACT also submitted comments supporting the other proposal, which targets “earnings stripping.”

Read More
Treasury Department

FACT Supports Treasury Actions to Counter Tax Inversions

Coalition Submits Comments in Support of Two Treasury/IRS Rules to Combat Abusive Tax Dodging by Multinationals
WASHINGTON, DC – The Financial Accountability and Corporate Transparency (FACT) Coalition submitted comments to the U.S. Department of the Treasury today in support of two proposed measures to combat abusive tax dodging through corporate tax inversions.  In April, the Treasury Department announced two new measures to make it harder for multinational corporations to invert to dodge taxes.  One measure targets a tax dodging technique known as “earnings stripping,” while the other rule targets repeat offenders known as “serial inverters.”

Read More
Treasury Department Building

FACT Coalition Applauds Move by Treasury to Curb Harmful Inversions and Earnings Stripping

Statement of Clark Gascoigne, Interim Executive Director, Financial Accountability and Corporate Transparency (FACT) Coalition
Note: Yesterday evening the U.S. Department of Treasury announced regulatory actions to further limit the ability of multinational corporations to benefit from the tax avoidance maneuvers known as “inversions” and “earnings stripping.”

WASHINGTON, DC – Clark Gascoigne, the Interim Executive Director of the Financial Accountability and Corporate Transparency (FACT) Coalition, issued the following statement today reacting to the announcement of new measures by the U.S. Department of the Treasury to counter corporate tax inversions:

Read More