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S 3659 110th Congress Senate Taxation Affiliated corporations Business records Commerce Congress Congressional reporting requirements Corporations Finance and Financial Sector Financial statements Fines (Penalties) Government Operations and Politics Government paperwork Government publicity Governmental investigations Income tax Law Securities regulation Tax penalties Tax returns

Corporate Transparency Act of 2007

Introduced: October 1, 2008 Introduced by: Schumer, Charles E. Democratic · New York See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 1, 2008
Read twice and referred to the Committee on Finance.
Oct 1, 2008
Introduced in Senate
 Plain-English summary Congressional Research Service

Corporate Transparency Act of 2007 [sic] - Amends the Internal Revenue Code to require the Secretary of the Treasury to: (1) disclose to the Securities and Exchange Commission (SEC) certain tax return information of public entities whose securities are required to be registered under the Securities and Exchange Act of 1934 relating to the reconciliation of financial income statements with income tax returns (i.e., Schedule M-3); and (2) post on the Internet certain identifying and financial information for such entities. Imposes penalties on entities that fail to file required information.

Requires the Secretary to study and report to Congress on the reconciliation of differences between financial income statements of public entities with income tax returns.

What's happening now October 1, 2008

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1