The Treasury issues an interim final rule that guts the CTA, Law Enforcement and financial transparency experts protest, and a hearing on fraud prevention brought attention to the issue of anonymous shell companies.
“Treasury’s proposal contradicts decades of evidence that sanctions evaders, tax cheats, and fentanyl traffickers rely on anonymous U.S. companies to stash their illicit cash in the U.S. financial system.
The Treasury suspends ownership reporting requirements for most entities, a House Financial Services Committee Hearing emphasizes the importance of the Corporate Transparency Act, and mass IRS layoffs threaten US revenue collection.
El domingo, el Departamento del Tesoro anunció a través de una publicación en redes sociales que ya no tiene la intención de “aplicar sanciones o multas contra ciudadanos estadounidenses o sociedades nacionales con obligaciones de información o sus beneficiarios finales” conforme a la Ley de Transparencia Corporativa.
The Treasury Department’s decision to limit reporting requirements under the landmark Corporate Transparency Act to only foreign entities is a boon for fentanyl traffickers, domestic criminals, and tax cheats.
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.
