Senate Finance Delays Vote on Rettig

Senate Finance Committee Chairman Orrin Hatch (R-UT) postponed a vote on President Trump’s nominee to helm the IRS after Democrats protested the administration’s decision earlier this week to scrap donor disclosure requirements for most nonprofits. Hatch said the committee will reconvene and vote later today, once he is assured that enough committee Republicans show up… Read more »

Treasury Scraps Donor Disclosure Rules

Treasury officials announced this week that the IRS will no longer require tax-exempt organizations other than charities to disclose information about their donors as part of their annual returns. Congress in the 1960s directed the IRS to collect donor information from 501(c)(3) charities that accept tax-deductible contributions. The policy provided the IRS information that could… Read more »

Taxpayer Advocate Delivers Mid-Year Report

Significant cuts to the IRS’s budget over the years combined with the need to implement the 2017 tax law have stretched the IRS critically thin, according to National Taxpayer Advocate Nina Olson. Olson released her mandated mid-year report to Congress last week that included a review of the 2018 filing season and a list of… Read more »

Category: IRS

Senators Question IRS Nominee’s Experience

President Trump’s nominee to head the Internal Revenue Service (IRS), Beverly Hills tax attorney Charles Rettig, was questioned at length today by the Senate Finance Committee about his background and how he would lead a huge, service-focused agency facing challenges on several fronts. Senate Finance Committee Chairman Orrin Hatch (R-UT) said at the outset of… Read more »

IRS Mulls Delaying New Rules for Tax-Exempts

The IRS is considering postponing enforcement of two provisions in the new tax law exposing tax-exempt organizations to unrelated business income tax liability, according to Bloomberg BNA. Last year’s Tax Cuts and Jobs Act added a requirement that tax-exempt organizations report unrelated business income for each trade or business separately. Previously, exempt organizations could report… Read more »