The Financial Accountability and Corporate Transparency Coalition (FACT Coalition) sent a letter to the Committee on Oversight and Government Reform with three recommendations to improve the implementation of the Foreign Account Tax Compliance Act (FATCA). The full letter can be read below or downloaded here.
The Financial Accountability and Corporate Transparency Coalition (FACT Coalition) sent a letter to members of the European Parliament in support of an amendment; which would make corporate tax disclosures public. The full letter can be read below or downloaded here.
The Financial Accountability and Corporate Transparency Coalition (FACT Coalition) sent a letter to Rep. Lloyd Doggett supporting H.R. 1931 which would help to curb corporate inversions. The full letter can be read below or downloaded here.
The Financial Accountability and Corporate Transparency Coalition (FACT Coalition) sent a letter to Rep. Mark Pocan supporting H.R. 2057 which should serve as a template for positive tax reform. The full letter can be read below or downloaded here.
The Financial Accountability and Corporate Transparency Coalition (FACT Coalition) sent a letter to Rep. Lloyd Doggett and Sen. Sheldon Whitehouse Supporting H.R. 1932/S. 851; which would target egregious offshore exploitations. The full letter can be read below or downloaded here.
Questions & Answers about the Foreign Account Tax Compliance Act (FATCA)
FATCA is the Foreign Account Tax Compliance Act, which was adopted in 2010 to help pay for the HIRE (Hiring Incentives to Restore Employment) Act. FATCA requires foreign financial institutions (FFIs) to determine if accounts they have opened are held, directly or indirectly, by Americans and, if so, disclose them to the Internal Revenue Service (IRS). Any FFI that refuses to provide this information to the United States is subject to a 30% withholding tax on the FFI’s U.S. source income.
