There hasn’t been much good economic news in recent years, but one bright spot for the economy is that the United States is a haven for foreign investors and this has helped attract more than $10 trillion to American capital markets according to Commerce Department data. These funds are hugely important for the health of […]
read more...The Center for Freedom and Prosperity and the Coalition for Tax Competition are pleased to acknowledge the strong stand three Senators have made against a proposed IRS regulation to collect additional and unnecessary information from nonresident aliens who invest in the United States.
read more...The Center for Freedom and Prosperity Foundation, joined by 14 of the country’s most influential free market and taxpayer advocacy organizations, urged Treasury Secretary Timothy Geithner to immediately withdrawal an Internal Revenue Service (IRS) regulation “that would undermine American banks and the U.S. financial system.”
read more...A new video released today by the Center for Freedom and Prosperity Foundation (CF&P) exposes a dangerous IRS proposal that would have disturbing ramifications for the US economy. Entitled, “The IRS Running Amok: Bureaucrats Want to Force Americans Banks to Put Foreign Tax Law Above U.S. Tax Law,” the video details how this rogue regulation would drive foreign capital from U.S. markets, harm American financial institutions, and endanger human rights.
read more...Even though it violates existing law, the IRS is seeking to impose a regulation that will discourage foreign investment in the U.S. economy and undermine the competitiveness of American banks. This CF&P Foundation video provides five reasons why this proposal is misguided, including the risk to innocent people living under corrupt and tyrannical governments.
read more...I’m not a big fan of the IRS, but usually I blame politicians for America’s corrupt, unfair, and punitive tax system. Sometimes, though, the tax bureaucrats run amok and earn their reputation as America’s most despised bureaucracy. Here’s an example. Earlier this year, the Internal Revenue Service proposed a regulation that would force American banks […]
read more...We are writing to express our deep concern with an onerous regulation (REG-146097-09), proposed by the Internal Revenue Service, that would undermine American banks and the U.S. financial system by requiring the reporting of deposit interest paid to nonresident aliens.
read more...All members of the Florida Delegation to the U.S. House of Representatives – 19 Republicans and 6 Democrats, spearheaded by Congressman Bill Posey – have signed a letter to President Obama urging withdrawal of a proposed IRS regulation (REG-146097-09) that would undermine U.S. financial markets by requiring American banks to put foreign tax law above U.S. Tax law.
read more...I’m not a big fan of the Internal Revenue Service, but I try not to demonize the bureaucrats because politicians actually deserve most of the blame for America’s complex, unfair, and corrupt tax system. The IRS generally is in the unenviable position of simply trying to enforce very bad laws. But sometimes the IRS runs […]
read more...President Obama’s Treasury Department has proposed a new Internal Revenue Service regulation (REG-146097-09) that would overturn existing law and force American banks to report the interest paid to all nonresident aliens. This ill-considered rule is a retread of a Clinton-era proposal that was shelved without implementation. But if implemented today, it could drive hundreds of billions of dollars out of the U.S. economy and harm America’s already shaky financial system. The Center for Freedom and Prosperity once again plans to be a leader in the effort to derail or kill this misguided regulation.
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