To mark USA Tax Day in mid-April (when Americans file their annual taxes), Global Alliance for Tax Justice’s North American network member Financial Accountability and Corporate Transparency (FACT) Coalition published “Tax Haven Lobby Advocating for Tax Cheats“:
“Congress Should Reject Tax Haven Lobby’s Push to Repeal FATCA Transparency Measure, says FACT Coalition. 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. A relatively small but influential group is advocating for the repeal of the Foreign Account Tax Compliance Act (FATCA), a landmark transparency measure. On April 6, Senator Rand Paul and Representative Mark Meadows introduced bills to repeal FATCA. We expect hearings on the bills in the near future.”
You can read the complete statement here.
Michelle Surka, Tax and Budget Advocate at U.S. PIRG. also issued a new FACT blog on tax day, titled “Tax Day for You, Tax Holiday for Multinationals“:
“State Legislators are Increasingly Stepping in to Combat Offshore Tax Haven Abuse, says Surka. It’s Tax Day. Odds are, you’ve already filed your taxes. Maybe you filed through a tax filing software, or maybe you hired an accountant to help you puzzle through the deductions you might be eligible for. Or, maybe you filed yourself, old-school-style, filling out your 1040 in your kitchen. Or, maybe you forgot, and this blog will serve as a last-second reminder—go file your taxes! All of this is to say: you’ve fulfilled your tax responsibilities. No doubt, the biggest corporations have filed theirs’s too. But, unlike you, they have an army of accountants to ensure they take advantage of every last loophole and gimmick to cut down on their tax liability to near nothing…”
Read the full blog here.
Picture ©Barry Barnes/Shutterstock