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United States · Bill · HR

H.R. 1265 (111th)

Stop Tax Haven Abuse Act

referredUnited States· United States Congress· EN

Introduced

3 March 2009

Last action

16 March 2009 · Referred

Status

Referred to the Subcommittee on Courts and Competition Policy.

Sponsors

Rep. Doggett, Lloyd [D-TX-37], Rep. Larson, John B. [D-CT-1], Sen. Van Hollen, Chris [D-MD], Rep. Berkley, Shelley [D-NV-1], Rep. Blumenauer, Earl [D-OR-3], Rep. Davis, Danny K. [D-IL-7], Rep. Higgins, Brian [D-NY-26], Rep. Levin, Sander M. [D-MI-12], Rep. Lewis, John [D-GA-5], Rep. McDermott, Jim [D-WA-7], Rep. Neal, Richard E. [D-MA-1], Rep. Pascrell, Bill, Jr. [D-NJ-9], Rep. Sánchez, Linda T. [D-CA-38], Rep. Stark, Fortney Pete [D-CA-13], Rep. Yarmuth, John A. [D-KY-3], Rep. DeLauro, Rosa L. [D-CT-3], Rep. Miller, George [D-CA-11], Rep. Abercrombie, Neil [D-HI-1], Rep. Andrews, Robert E. [D-NJ-1], Rep. Bishop, Timothy H. [D-NY-1], Rep. Cleaver, Emanuel [D-MO-5], Rep. Conyers, John, Jr. [D-MI-13], Rep. Costello, Jerry F. [D-IL-12], Rep. Cummings, Elijah E. [D-MD-7], Rep. DeFazio, Peter A. [D-OR-4], Rep. Ellison, Keith [D-MN-5], Rep. Farr, Sam [D-CA-20], Rep. Fattah, Chaka [D-PA-2], Rep. Filner, Bob [D-CA-51], Rep. Green, Gene [D-TX-29], Rep. Grijalva, Raúl M. [D-AZ-7], Rep. Hare, Phil [D-IL-17], Rep. Hinchey, Maurice D. [D-NY-22], Rep. Johnson, Eddie Bernice [D-TX-30], Rep. Johnson, Henry C. "Hank" [D-GA-4], Rep. Kaptur, Marcy [D-OH-9], Rep. Lee, Barbara [D-CA-12], Rep. Loebsack, David [D-IA-2], Rep. Lynch, Stephen F. [D-MA-8], Sen. Markey, Edward J. [D-MA], Rep. McGovern, James P. [D-MA-2], Rep. Moore, Gwen [D-WI-4], Rep. Moran, James P. [D-VA-8], Rep. Nadler, Jerrold [D-NY-12], Rep. Payne, Donald M. [D-NJ-10], Rep. Rush, Bobby L. [D-IL-1], Rep. Schakowsky, Janice D. [D-IL-9], Rep. Sestak, Joe [D-PA-7]

Subjects

Taxation

Source updated

10 January 2026

Taxation

Official sourceDownload fileView documentsShare

Summary

Stop Tax Haven Abuse Act - Amends Internal Revenue Code provisions relating to tax shelter activities to: (1) establish legal presumptions against the validity of transactions involving offshore secrecy jurisdictions (i.e., foreign tax havens identified in this Act and by the Secretary of the Treasury); (2) impose restrictions on foreign jurisdictions, financial institutions, or international transactions that are of primary money laundering concern or that impede U.S. tax enforcement; (3) treat certain foreign corporations managed and controlled primarily in the United States as domestic corporations; (4) increase the period for Internal Revenue Service (IRS) review of tax returns involving offshore secrecy jurisdictions; (5) require tax withholding agents and financial institutions to report certain information about beneficial owners of foreign-owned financial accounts and accounts established in offshore secrecy jurisdictions; (6) disallow tax advisor opinions validating transactions in offshore secrecy jurisdictions; (7) subject dividend equivalents and substitute dividends to the 30% tax on foreign income; and (8) impose reporting requirements for transactions involving a passive foreign investment company. Amends the Securities Exchange Act of 1934 and other federal enactments to impose a penalty for failure to disclose holdings or transactions involving a foreign entity. Requires the Secretary of the Treasury to publish a final rule requiring unregistered investment companies, including hedge funds or private equity funds, to establish anti-money laundering programs, and to submit suspicious activity reports. Modifies requirements for certain third party summonses used to obtain information in tax investigations that do not identify the person with respect to whose liability the summons is issued (John Doe summons). Increases penalties for promoting abusive tax shelters and for aiding and abetting the understatement of tax liability. Prohibits the patenting of tax planning inventions. Prohibits tax advisor contingent fee agreements for obtaining tax savings or benefits. Allows increased disclosure of tax information for enforcement purposes. Directs the Secretary to impose standards for written tax opinions by tax practitioners. Denies tax deductions for certain fines and penalties for violations of law and for interest paid on certain understatements of tax. Sets forth rules for the application of the economic substance doctrine and imposes penalties for underpayments of tax due to transactions lacking economic substance.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 3 March 2009

    Introduced

    Referred to the Committee on Ways and Means, and in addition to the Committees on Financial Services, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

    Source: IntroReferral

  2. 3 March 2009

    Introduced

    Referred to House Ways and Means

    Source: IntroReferral

  3. 3 March 2009

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 3 March 2009

    Introduced

    Introduced in House

    Source: IntroReferral

  5. 16 March 2009

    Referred

    Referred to the Subcommittee on Courts and Competition Policy.

    Source: Committee

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 3 March 2009

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  • Introduced in House (PDF)

    Introduced in House · EN · 3 March 2009

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  • Introduced in House

    summary · EN · 3 March 2009

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Sponsors

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Sources

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