Top Legislation - View All
Also tagged in: Administrative procedure, Bank accounts, Bank records, Business, Criminal justice, Department of the Treasury, Executive departments, Finance, Fines (Penalties), Government information, Government paperwork, Income tax, Interest, Law, Money laundering, Securities industry, Securities regulation, Standards, Tax administration, Tax deductions, Tax evasion, Tax havens, Tax penalties, Tax returns, Tax shelters, Taxation, Taxation of foreign income, Withholding tax
Latest Action: 06/04/2007 - Referred to the Subcommittee on Courts, the Internet, and Intellectual Property. Bill TextTo restrict the use of offshore tax havens and abusive tax shelters to inappropriately avoid Federal taxation, and for other purposes. 5/3/2007--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 Commissioner of the Internal Revenue Service); (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) increase the period for Internal Revenue Service review of tax returns involving offshore secrecy jurisdictions; (4) 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;[...] show full description
Also tagged in: Accounting, Administrative procedure, Administrative remedies, Affiliated corporations, Business, Confidential communications, Corporate finance, Corporate mergers, Corporation taxes, Debt, Department of the Treasury, Depreciation and amortization, Dividends, Evidence (Law), Executive departments, Finance, Fines (Penalties), Foreign corporations, Fraud, Government information, Government paperwork, Income tax, Interest, Law, Leases, Losses, Profit, Stockholders, Stocks, Subsidiary corporations, Tax administration, Tax credits, Tax deductions, Tax evasion, Tax liens, Tax penalties, Tax preparers, Tax returns, Tax shelters, Taxation, Taxation of foreign income, Valuation
Latest Action: 05/16/2007 - Referred to the House Committee on Ways and Means. Bill TextTo amend the Internal Revenue Code of 1986 to curb tax abuses by disallowing tax benefits claimed to arise from transactions without substantial economic substance, and for other purposes. 5/16/2007--Introduced. Abusive Tax Shelter Shutdown and Taxpayer Accountability Act of 2007 - Amends the Internal Revenue Code to revise or add provisions relating to tax shelter activity, including provisions to: (1) define "economic substance" for purposes of evaluating tax shelter transactions; (2) increase penalties for large entities and high net-worth individuals for failure to disclose certain tax shelter transactions; (3) impose penalties for understatements of tax due to transactions lacking economic substance; (4) deny material tax advisors a claim of privilege as to the identity of a client; (5) revise standards for the penalty for understatement of tax liability by income tax return preparers and increase the penalties for such understatements; (6) revise and increase [...] show full description
Also tagged in: Actions and defenses, Damages, Income tax, Injunctions, Intellectual property, Law, Legal fees, Patent infringement, Tax planning, Taxation, Taxpayers
Latest Action: 06/04/2007 - Referred to the Subcommittee on Courts, the Internet, and Intellectual Property. Bill TextTo amend title 35, United States Code, to limit damages and other remedies with respect to patents for tax planning methods. 5/17/2007--Introduced. Prohibits a civil action and certain civil remedies against taxpayers or tax practitioners for infringement of a patent for tax planning methods.
Also tagged in: Administrative procedure, Bank accounts, Bank records, Business, Criminal justice, Department of the Treasury, Executive departments, Finance, Fines (Penalties), Government information, Government paperwork, Income tax, Interest, Law, Money laundering, Securities industry, Securities regulation, Standards, Tax administration, Tax deductions, Tax evasion, Tax havens, Tax penalties, Tax returns, Tax shelters, Taxation, Taxation of foreign income, Withholding tax
Latest Action: 02/17/2007 - Sponsor introductory remarks on measure. (CR S2206-2216) Bill TextA bill to restrict the use of offshore tax havens and abusive tax shelters to inappropriately avoid Federal taxation, and for other purposes. 2/17/2007--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) increase the period for Internal Revenue Service review of tax returns involving offshore secrecy jurisdictions; (4) 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; and [...] show full description
Latest Action: 11/15/2007 - Sponsor introductory remarks on measure. (CR S14491-14492, S14492-14493) Bill TextA bill to amend title 35, United States Code, to provide that certain tax planning inventions are not patentable, and for other purposes. 11/15/2007--Introduced. Provides that tax planning inventions are not patentable. Defines a "tax planning invention" as a plan, strategy, technique, scheme, process, or system to reduce, minimize, avoid, or defer tax liability or to facilitate compliance with tax laws, excluding tax preparation software and other tools or systems used solely to prepare tax or information returns.
|
Latest Legislation - View All
Latest Action: 11/15/2007 - Sponsor introductory remarks on measure. (CR S14491-14492, S14492-14493) Bill TextA bill to amend title 35, United States Code, to provide that certain tax planning inventions are not patentable, and for other purposes. 11/15/2007--Introduced. Provides that tax planning inventions are not patentable. Defines a "tax planning invention" as a plan, strategy, technique, scheme, process, or system to reduce, minimize, avoid, or defer tax liability or to facilitate compliance with tax laws, excluding tax preparation software and other tools or systems used solely to prepare tax or information returns.
Also tagged in: Actions and defenses, Damages, Income tax, Injunctions, Intellectual property, Law, Legal fees, Patent infringement, Tax planning, Taxation, Taxpayers
Latest Action: 06/04/2007 - Referred to the Subcommittee on Courts, the Internet, and Intellectual Property. Bill TextTo amend title 35, United States Code, to limit damages and other remedies with respect to patents for tax planning methods. 5/17/2007--Introduced. Prohibits a civil action and certain civil remedies against taxpayers or tax practitioners for infringement of a patent for tax planning methods.
Also tagged in: Accounting, Administrative procedure, Administrative remedies, Affiliated corporations, Business, Confidential communications, Corporate finance, Corporate mergers, Corporation taxes, Debt, Department of the Treasury, Depreciation and amortization, Dividends, Evidence (Law), Executive departments, Finance, Fines (Penalties), Foreign corporations, Fraud, Government information, Government paperwork, Income tax, Interest, Law, Leases, Losses, Profit, Stockholders, Stocks, Subsidiary corporations, Tax administration, Tax credits, Tax deductions, Tax evasion, Tax liens, Tax penalties, Tax preparers, Tax returns, Tax shelters, Taxation, Taxation of foreign income, Valuation
Latest Action: 05/16/2007 - Referred to the House Committee on Ways and Means. Bill TextTo amend the Internal Revenue Code of 1986 to curb tax abuses by disallowing tax benefits claimed to arise from transactions without substantial economic substance, and for other purposes. 5/16/2007--Introduced. Abusive Tax Shelter Shutdown and Taxpayer Accountability Act of 2007 - Amends the Internal Revenue Code to revise or add provisions relating to tax shelter activity, including provisions to: (1) define "economic substance" for purposes of evaluating tax shelter transactions; (2) increase penalties for large entities and high net-worth individuals for failure to disclose certain tax shelter transactions; (3) impose penalties for understatements of tax due to transactions lacking economic substance; (4) deny material tax advisors a claim of privilege as to the identity of a client; (5) revise standards for the penalty for understatement of tax liability by income tax return preparers and increase the penalties for such understatements; (6) revise and increase [...] show full description
Also tagged in: Administrative procedure, Bank accounts, Bank records, Business, Criminal justice, Department of the Treasury, Executive departments, Finance, Fines (Penalties), Government information, Government paperwork, Income tax, Interest, Law, Money laundering, Securities industry, Securities regulation, Standards, Tax administration, Tax deductions, Tax evasion, Tax havens, Tax penalties, Tax returns, Tax shelters, Taxation, Taxation of foreign income, Withholding tax
Latest Action: 06/04/2007 - Referred to the Subcommittee on Courts, the Internet, and Intellectual Property. Bill TextTo restrict the use of offshore tax havens and abusive tax shelters to inappropriately avoid Federal taxation, and for other purposes. 5/3/2007--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 Commissioner of the Internal Revenue Service); (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) increase the period for Internal Revenue Service review of tax returns involving offshore secrecy jurisdictions; (4) 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;[...] show full description
Also tagged in: Administrative procedure, Bank accounts, Bank records, Business, Criminal justice, Department of the Treasury, Executive departments, Finance, Fines (Penalties), Government information, Government paperwork, Income tax, Interest, Law, Money laundering, Securities industry, Securities regulation, Standards, Tax administration, Tax deductions, Tax evasion, Tax havens, Tax penalties, Tax returns, Tax shelters, Taxation, Taxation of foreign income, Withholding tax
Latest Action: 02/17/2007 - Sponsor introductory remarks on measure. (CR S2206-2216) Bill TextA bill to restrict the use of offshore tax havens and abusive tax shelters to inappropriately avoid Federal taxation, and for other purposes. 2/17/2007--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) increase the period for Internal Revenue Service review of tax returns involving offshore secrecy jurisdictions; (4) 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; and [...] show full description
|
