New Bill Would Prevent COVID Aid from Bailing Out “Inverted” Corporations
Sen. Durbin and Rep. Doggett’s bill provides a critical safeguard against corporate abuse at this time of national crisis.
The FACT Coalition Sent a Letter of Support to the Sponsors of the Stop Corporate Inversions Act of 2019
The Financial Accountability and Corporate Transparency Coalition (FACT Coalition) sent a letter of support to the sponsors of the Stop Corporate Inversions Act of 2019. The full letter can be read below or downloaded here.
Letter to IRS Opposing Removal of Section 385 Documentation Regulations
The FACT Coalition filed a comment on December, 2018 with the Internal Revenue Service (IRS) on a proposal removal of Section 385 documentation regulations (REG-130244-17). The full letter can be read below or downloaded here.
FACT Sheet: Offshore Tax Haven Abuse by the Numbers (November 2017)
$129 billion to $205 billion: Amount that U.S. taxpayers lose in federal revenue to offshore tax haven abuse each year.
$94 billion to $135 billion: Lost U.S. revenue from offshore profit shifting by multinational corporations annually.[i]
$35 billion to $70 billion: Lost U.S. revenue to tax evasion by wealthy individuals annually.[ii], [iii]
FACT Sheet: Offshore Tax Haven Abuse (November 2017)
Middle-Class Taxpayers and Domestic Businesses Foot the Bill for Offshore Tax Loopholes
Many Large U.S.-Based Multinationals Avoid Paying U.S. Taxes by Using Accounting Tricks to Make Profits Made in America Appear to Be Generated in Offshore Tax Havens—Countries with Minimal or No Taxes.
House Bill a Gift to Offshore Tax Dodgers and Outsourcers
WASHINGTON, D.C. — The U.S. House Ways and Means Committee unveiled legislation Thursday that would overhaul the U.S. tax system. According to the FACT Coalition, the bill would reward corporations that have shifted profits to tax havens.