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U.S. Treasury should tackle dirty money
March 29th, 2023
The FTC joins 36 global civil society organizations calling on U.S. Treasury Secretary Janet Yellen to advance specific, meaningful financial transparency reforms coinciding with the second Summit for Democracy on March 29-30.
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Lawmakers Fight to Protect Anonymity for Foreign Accountholders
July 25th, 2011
WASHINGTON, DC – The U.S. Treasury Department is finalizing a regulation (REG-146097-09) that would require that the interest earned on the U.S. bank accounts of non-resident aliens be reported to the Internal Revenue Service (IRS), as is currently required for U.S. citizens. The proposed IRS regulation has been touted as an important tool in the fight against international tax evasion, money laundering, drug trafficking, corruption, and terrorist financing. However, a small group of legislators have introduced a bill (H.R. 2568) that would prevent the Treasury from taking such action.
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