You Won't Believe the GOP's New Gift to Corporations
From Ring of Fire:
Republicans are looking to repeal the Foreign Account Tax Compliance Act (FATCA), which combats federal tax evasion via offshore bank accounts.
FATCA requires Americans living in-country and abroad who hold offshore accounts worth $50,000 or more to report their assets to the IRS. FATCA was signed into law in March of 2010 as a result of an international tax evasion scandal. Swiss bank UBS was found to have helped many wealthy Americans hide their money from the Internal Revenue Service in order to avoid paying their fair share of federal taxes. International tax investigators discovered that UBS, and other large banks Credit Suisse Wegelin, helped 17,000 wealthy Americans hide a combined amount of $20 billion.
You can read the full article here at Ring of Fire.
abq e streeter
(7,658 posts)leftyohiolib
(5,917 posts)underpants
(182,274 posts)Wow
indepat
(20,899 posts)can us his veto power to nip this travesty in the bud.
Berlum
(7,044 posts)Republicons hide everything from the light of day...Jesus would scorn this kinda krap.
"Sin grows in the dark..." 1 Cor 4:5b
Bill USA
(6,436 posts)recommended!!