Statement by FACT Coalition on White House’s Tax Reform Outline
The Administration released an outline today of its plan to reform the corporate tax code. The signature reform is a reduction of the corporate tax rate from 35% to 15%.
The Financial Accountability and Corporate Transparency Coalition (FACT Coalition) sent a letter to House lawmakers Tuesday urging them to oppose H.R. 2054/S. 869 and defend the Foreign Account Tax Compliance Act (FATCA).
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.
Congress Should Reject Tax Haven Lobby’s Push to Repeal FATCA Transparency Measure
WASHINGTON, D.C. – As millions of Americans head to the post office today — this year’s deadline for filing individual tax returns — there is a stepped-up effort to make it easier for some to illegally evade paying their taxes.
The Financial Accountability and Corporate Transparency Coalition (FACT Coalition) sent a letter to House lawmakers Friday urging them to oppose the “Infrastructure 2.0 Act” (H.R.1670), which is sponsored by Rep. John Delaney (D-MD).
The Financial Accountability and Corporate Transparency Coalition (FACT Coalition) sent a letter to House lawmakers Friday urging them to oppose the “Partnership to Build America Act” (H.R.1669), which is sponsored by Rep. John Delaney (D-MD).
