Members of Congress introduced bipartisan legislation to require anonymous shell companies to disclose their beneficial owners in an effort to uncover tax evasion, money laundering, terrorism financing and other crimes.

Rep. Carolyn B. Maloney, D-N.Y., joined together with Peter King, R-N.Y., to introduce the Corporate Transparency Act in the House, while Sen. Chuck Grassley, R-Iowa, and Sheldon Whitehouse, D-R.I., teamed up to introduced companion legislation, the True Incorporation Transparency for Law Enforcement (TITLE) Act, in the Senate.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access