The FACT Coalition is gravely concerned by reports of mass layoffs at the Internal Revenue Service expected to impact as many as 7,000 staff, including thousands of employees specifically working on tax enforcement and collections.
FACT urges Treasury to resume full implementation of the landmark Corporate Transparency Act following a federal district judge’s stay of the last nationwide preliminary injunction preventing broad enforcement of the law.
FACT applauds the U.S. Supreme Court’s decision to stay a nationwide injunction against the landmark Corporate Transparency Act, clearing a major hurdle to enforcement of the most consequential anti-money laundering law in a generation.
A nationwide preliminary injunction preventing Treasury from enforcing the Corporate Transparency Act “is a Christmas gift to criminals who use anonymous shell companies to traffic fentanyl, exploit people, and hide dirty money.”
Many companies, including as many as half of all large U.S. multinationals, will soon begin publicly reporting tax and other financial information for a range of high-risk jurisdictions typically associated with profit shifting and related tax avoidance schemes.
A new policy brief coauthored by FACT and leading civil society organizations from Peru, Colombia, and Brazil outlines seven key recommendations for governments to better address, mitigate, and prevent the harms caused by illegal mining in the Amazon region.
