Honest Income Disclosure Act

The Honest Income Disclosure Act would require publicly traded companies to include their actual IRS-reported taxable income in their annual financial reports. This information would be presented alongside the "book income" figures typically shown to shareholders, allowing for a direct comparison between the profits a company reports to investors and the income it reports for tax purposes. By making this data available through the SEC’s online database (EDGAR), the bill aims to provide the public and investors with greater transparency regarding corporate tax obligations and financial health.