FACT submits comments calling for international corporate tax reform ahead of a House hearing on global competitiveness, and a Senate funding bill avoids dangerous riders and maintains key funding levels.
Treasury delays the implementation of a rule that would fight money laundering in the private investment sector, Senators introduce a bill to apply AML safeguards to the art market, and House appropriators propose further cuts to the IRS.
The House Ways and Means Committee’s draft tax bill extends trillions of dollars in wasteful and unpopular tax breaks, paving the way for massive cuts to vital health and other public services. Lawmakers must go back to the drawing board.
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.
The FACT Coalition is gravely concerned by reports of mass layoffs at the Internal Revenue Service expected to impact as many as 7,000 staff, including thousands of employees specifically working on tax enforcement and collections.
A number of small, but important, bureaucratic steps draw FinCEN closer to full implementation of the CTA, and the IRS announces sweeping new tax enforcement efforts focused on large corporations and high-wealth individuals.
