Colleagues Remember Tax “Expert’s Expert” as Tenacious, Witty, Eloquent, and Kind
WASHINGTON, D.C. – The Financial Accountability and Corporate Transparency (FACT) Coalition today mourns the loss of its executive director, Rebecca Wilkins, who passed away Sunday, February 14th, following a protracted battle with cancer.
“Incorporation Transparency and Law Enforcement Assistance Act” Will Increase Corporate Transparency; Give Law Enforcement Important Tool for Investigating Terrorism, Other Crimes
Rampant Abuse of Anonymous Companies Featured Prominently on Sunday’s 60 Minutes
WASHINGTON, DC – The Financial Accountability and Corporate Transparency (FACT) Coalition welcomed the introduction today of bipartisan legislation to give law enforcement an important tool for investigating terrorism and other crime enabled through anonymous American shell companies.
“Tax Extenders” Deal Could Permanently Enshrine Outrageous Tax Dodging Loophole in Tax Code, Extend Another One for Five Years
Congressional Negotiators Ignore a Hundred Thousand Letters from Constituents Calling for an End to Egregious Offshore Tax Loopholes
WASHINGTON, DC – Civil society groups assailed a backroom congressional tax deal released early this morning as an egregious giveaway to multinational tax dodgers at the expense of U.S. taxpayers. The so called “tax extenders” deal could permanently enshrine in the tax code an offshore loophole known as the “Active Financing Exception”, which is abused by multinational companies to artificially shift profits overseas and dodge taxes at the expense of the American public. The deal also extends for five years another offshore loophole, known as the “CFC Look-Through Rule”, which also allows corporations to use accounting tricks to avoid paying taxes.
“Holding Individuals Accountable and Deterring Money Laundering Act” Will Help Return Rule of Law to U.S. Financial System; Bring America in Line with International Standards
WASHINGTON, DC – The FACT (Financial Accountability and Corporate Transparency) Coalition welcomed the introduction of legislation to improve anti-money laundering and counter-terror finance safeguards while heightening the accountability of financial institutions. Sponsored by Representative Maxine Waters (D-CA), the Holding Individuals Accountable and Deterring Money Laundering Act [H.R. 4242] targets the individuals (or enablers) at financial institutions responsible for accepting suspect funds, while aligning the United States with a number of international anti-money laundering (AML) standards.
House Lawmakers to Vote this Week on Temporary Renewal of “Tax Extenders” Package – including Two Outrageous Offshore Tax Loopholes Costing Taxpayers $10 Billion Annually
Some on Capitol Hill Push to Make Loopholes Permanent, but Media Reports Suggest Offshore Provisions Could Be Phased out as Part of Bigger Tax Deal, A Welcome Development
WASHINGTON, D.C. – Members of Congress should reject two egregious international tax loopholes in pending legislation, which combined would cost American taxpayers $10 billion per year, the Financial Accountability and Corporate Transparency (FACT) Coalition, its members, and tens of thousands of Americans said today.
OECD’s Base Erosion and Profit Shifting (BEPS) Package “Important First Step” Towards Curtailing Abusive Tax Avoidance, but More Must Be Done
WASHINGTON, DC – As two congressional committees held hearings today on global efforts to tackle abusive corporate tax dodging, the Financial Accountability and Corporate Transparency (FACT) Coalition urged U.S. lawmakers to embrace the efforts, which target a practice gouging American taxpayers of roughly $90 billion per year.
