U.S. Congress - S.506 Stop Tax Haven Abuse Act
S.506 - Stop Tax Haven Abuse Act
A bill to restrict the use of offshore tax havens and abusive tax shelters to inappropriately avoid Federal taxation, and for other purposes. view all titles (2)
All Bill Titles
- Short: Stop Tax Haven Abuse Act as introduced.
- Official: A bill to restrict the use of offshore tax havens and abusive tax shelters to inappropriately avoid Federal taxation, and for other purposes. as introduced.
This Bill currently has no wiki content. If you would like to create a wiki entry for this bill, please Login, and then select the wiki tab to create it.
Bill's Views
- Today: 50
- Past Seven Days: 365
- All-Time: 17,194
|
|
|
|
|
|
|
|
Committees
Official Summary
3/2/2009--Introduced.Stop Tax Haven Abuse Act - Amends Internal Revenue Code provisions relating to tax shelter activities to: (1) establish legal presumptions against the validity of transactions involving offshore secrecy jurisdictions (i.e., foreign tax havens identified in this Act andOfficial Summary
3/2/2009--Introduced.Stop Tax Haven Abuse Act - Amends Internal Revenue Code provisions relating to tax shelter activities to:(1) establish legal presumptions against the validity of transactions involving offshore secrecy jurisdictions (i.e., foreign tax havens identified in this Act and by the Secretary of the Treasury);
(2) impose restrictions on foreign jurisdictions, financial institutions, or international transactions that are of primary money laundering concern or that impede U.S. tax enforcement;
(3) treat certain foreign corporations managed and controlled primarily in the United States as domestic corporations;
(4) increase the period for Internal Revenue Service (IRS) review of tax returns involving offshore secrecy jurisdictions;
(5) require tax withholding agents and financial institutions to report certain information about beneficial owners of foreign-owned financial accounts and accounts established in offshore secrecy jurisdictions;
(6) disallow tax advisor opinions validating transactions in offshore secrecy jurisdictions;
(7) subject dividend equivalents and substitute dividends to the 30% tax on foreign income; and
(8) impose reporting requirements for transactions involving a passive foreign investment company.Amends the Securities Exchange Act of 1934 and other federal enactments to impose a penalty for failure to disclose holdings or transactions involving a foreign entity.Requires the Secretary of the Treasury to publish a final rule requiring unregistered investment companies, including hedge funds or private equity funds, to establish anti-money laundering programs, and to submit suspicious activity reports.Modifies requirements for certain third party summonses used to obtain information in tax investigations that do not identify the person with respect to whose liability the summons is issued (John Doe summons).Increases penalties for promoting abusive tax shelters and for aiding and abetting the understatement of tax liability.Prohibits the patenting of tax planning inventions.Prohibits tax advisor contingent fee agreements for obtaining tax savings or benefits.Allows increased disclosure of tax information for enforcement purposes.Directs the Secretary to impose standards for written tax opinions by tax practitioners.Denies tax deductions for certain fines and penalties for violations of law and for interest paid on certain understatements of tax.Sets forth rules for the application of the economic substance doctrine and imposes penalties for underpayments of tax due to transactions lacking economic substance.
...Read the Rest
Recent News Coverage
Hmmmm, no news coverage found for this bill at this time. This means that this this bill has not yet been mentioned on a publicly-searchable news website by either its official number (for example, "H.R. 3200") or title (for example, "America's Affordable Health Choices Act of 2009"). As soon as that changes, our daily automated search across the Web will catch it and include it here. If this bill is of interest to you, you can write a letter to the editor referring to this bill by name, and if your letter is published on the Web, a link back your letter will appear here within about one day. Or, if you know of a news article about this bill to display here, email us the web address of this page and the web address of your suggested news article: Our editorial team will post relevant links as quickly as possible. Thanks for helping to build public knowledge about Congress.
Recent Blog Coverage
View All (168)
|
View Top Rated
H.R.1648: Safe Schools Improvement Act of 2011 ... - OpenCongress
Sánchez' bill (H.R. 1648) is identical to the one introduced in the Senate by Senators Bob Casey (D-PA) and Mark Kirk (R-IL) on March 8 (S. 506). The Safe Schools Improvement Act (SSIA) would require schools and . ... A bill in the U.S. Congress: To a
S.569: Federal Judicial Fairness Act of 2011 - U.S. ... - OpenCongress
Haven Abuse Act (S. 506, H.R. 1265); draft proposals by the Senate Finance Committee; two other related bills, S. 386 and S. 569; the Bipartisan Tax Fairness and Simplification Act (S. 3018); and proposals by President ... Source: Public Intelligence ... O
S.506: A bill to amend the Elementary and Secondary Education Act ...
Official government data, breaking news and blog coverage, public comments and user community for S.506 A bill to amend the Elementary and Secondary Education Act of 1965 to address and take action to prevent bullying and harassment of students. ... OpenCo
Users tracking S.506 (7) are also tracking:
| Bills | People | Issues |
|---|---|---|
Users supporting S.506 (5) are also:
| Supporting Bill | Supporting Senator | Supporting Representative |
|---|---|---|
| Opposing Bill | Opposing Senator | Opposing Representative |
|---|---|---|
Users opposing S.506 (6) are also:
| Supporting Bill | Supporting Representative |
|---|---|
| Opposing Bill | Opposing Senator |
|---|---|
Vote on This Bill
-
Share This Bill
More Share via Email
