Resources

Letter to the IRS Supporting Treasury’s Corporate Inversion Regulations

The Financial Accountability and Corporate Transparency Coalition (FACT Coalition) sent a letter to the IRS in support of the Department of the Treasury’s Final and Temporary Regulations under Section 385 on the Treatment of Certain Interests in Corporations as Stock or Indebtedness. The full letter can be read below or downloaded here.

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FACT Sheet: Differences in Beneficial Ownership Legislation

Creating a U.S. shell company takes less information than acquiring a library card.  A 2014 academic study found that the U.S. is the easiest country in the world for terrorists and criminals to open anonymous shell companies to launder their money with impunity.

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Letter to Reps. Lynch, King, and Maloney Supporting Aircraft Ownership Transparency Act (H.R. 3544)

The Financial Accountability and Corporate Transparency Coalition (FACT Coalition) sent a letter to Reps. Lynch, Maloney, and King thanking them for their support regarding Aircraft Ownership Transparency Act of 2017 (H.R.3544) which aims to secure the U.S. aviation system from criminal actors and terrorists hiding behind anonymous shell companies. The full letter can be read below or downloaded here.

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Sixteen Members of the House of Representatives Sent a Letter Urging the Financial Accounting Standards Board (FASB) to Require Country by Country Tax Reporting

Sixteen members of the House of Representatives sent a letter to the Financial Accounting Standards Board (FASB), urging them to require multinational companies to be more transparent in reporting where they pay taxes and book profits. Specifically, they called on the accounting body to require that companies disclose their taxes and profits on a country-by-country basis.

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