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White House Garnering Congressional Support for Corporate Transparency Bill, Say Officials
By Kira Zalan
printA legislative proposal that would empower the IRS to assign Employee Identification Numbers to all American corporations is drawing congressional support, U.S. officials said Tuesday. The 2014 White House plan would grant federal law enforcement agencies access to data on the owners of corporations formed in any state provided that the information is related to international investigations of money laundering and terrorist financing. The proposal would also extend anti-money laundering and counterterrorism financing obligations to corporate formation agents. Sen. Sheldon Whitehouse (D-RI) will introduce the measure in the Senate Judiciary Committee "in the weeks ahead," according to a congressional staffer,...
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