According to a recent report, the United States Chamber of Commerce and its affiliated Institute for Legal Reform (ILR) failed to report millions of dollars in taxable spending over the past several years, spending intended to influence state and federal races around the country. In fact, Public Citizen, a consumer advocacy organization, filed a complaint with the Internal Revenue Service (IRS), asking the IRS to investigate whether the U.S. Chamber and ILR melded funds in a shared bank account in an effort to hide accurate reporting of investment or interest income for tax avoidance.
According to Public Citizen, court documents as well as internal corporate memoranda and media reports reflect that the Chamber and the ILR engaged “in a massive campaign . . . to conceal its gambit stack the courts with hand-picked pro-corporate judges” at the expense of the interests of American citizens. If correct, both the U.S. Chamber and the ILR face serious potential sanctions for tax avoidance and violation of disclosure requirements.
To read more about Public Citizen’s findings, visit www.citizen.org.
We at Regan Zambri & Long believe our politicians should not act at the behest of special interest groups, but should instead serve the people who placed them in office.