Tap any paragraph to write a margin note. Your notes collect in the Desk below the text and file under cases with @. The side-by-side margin rail opens on a larger screen.

§
Marginalia
Code · BILL · 113th Congress · H.R. 3666 (Introduced in House) — To alleviate the sequestration and to end offshore tax abuses, to preserve our national defense and protect American... · Sec. 1

Sec. 1. Short title, etc

314 words·~1 min read·/bill/113/hr/3666/ih/section-1·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

This Act may be cited as the . Sequester Delay and Stop Tax Haven Abuse Act Except as otherwise expressly provided, whenever in titles II through IV of this Act an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal Revenue Code of 1986. The table of contents of this Act is as follows: Sec. 1. Short title, etc. Sec. 2. Findings. Title I—Extension of Sequestration Sec. 101.
Repeal the 2014 and 2015 sequesters. Sec. 102. Modification of discretionary spending caps for fiscal year 2016. Title II—Deterring the use of tax havens for tax evasion Sec. 201. Authorizing special measures against foreign jurisdictions, financial institutions, and others that significantly impede United States tax enforcement. Sec. 202. Strengthening the Foreign Account Tax Compliance Act (FATCA). Sec. 203. Treatment of foreign corporations managed and controlled in the United States as domestic corporations.
Sec. 204. Reporting United States beneficial owners of foreign owned financial accounts. Sec. 205. Swap payments made from the United States to persons offshore. Title III—Other measures To combat tax haven abuses Sec. 301. Country-by-country reporting. Sec. 302. Penalty for failing to disclose offshore holdings. Sec. 303. Deadline for anti-money laundering rule for investment advisers. Sec. 304. Anti-money laundering requirements for formation agents. Sec. 305. Strengthening John Doe summons proceedings.
Sec. 306. Improving enforcement of foreign financial account reporting. Title IV—Ending corporate offshore tax avoidance Sec. 401. Allocation of expenses and taxes on basis of repatriation of foreign income. Sec. 402. Current taxation of royalties and other income from intangibles received from a controlled foreign corporation. Sec. 403. Limitations on income shifting through intangible property transfers. Sec. 404. Repeal of check-the-box rules for certain foreign entities and CFC look-thru rules.
Sec. 405. Prohibition on offshore loan abuse.
★   the supreme law of the land   ★
Don't Tread on Me
E Pluribus Unum — out of many, one

"If you don't know your rights, you don't have any."

Marginalia · a citizen's law index
A research desk, not legal advice. Always read the cited source before relying on a summary.
Questions or an issue? support@self-law.org
disclaimerMarginalia is a research index, not a law firm. Nothing on this site is legal, tax, or financial advice and no attorney–client relationship is formed by using it. Statutes, regulations, and case law change; summaries, search results, AI output, and member posts may be incomplete, out of date, or wrong. Any interpretation drawn from material on this site should be validated by a licensed attorney in your jurisdiction before you act on it.