Charitable organizations : IRS oversight and tax issues for congress /
Lynda Meyers, Editor.
- New York : Nova Publishers, (c)2015.
- 1 online resource : color illustrations.
- Economic issues, problems and perspectives .
Minimal Level Cataloging Plus.
Includes bibliographies and index.
CHARITABLE ORGANIZATIONS: IRS OVERSIGHT AND TAX ISSUES FOR CONGRESS; CHARITABLE ORGANIZATIONS: IRS OVERSIGHT AND TAX ISSUES FOR CONGRESS; Library of Congress Cataloging-in-Publication Data; Contents; Preface; Chapter 1: Tax-Exempt Organizations: Better Compliance Indicators and Data, and More Collaboration with State Regulators Would Strengthen Oversight of Charitable Organizations*; Why GAO Did This Study; What GAO Recommends; What GAO Found; Abbreviations; Background; Charitable Organizations Comprise a Major Part of Our Economy and Vary Considerably in Size and Purpose. Although Charitable Organizations Vary in Size and Purpose, a Small Number Concentrated in the Health and Education Sectors Control Most AssetsEO Receives Indications of Noncompliance from a Variety of Sources, but Declining Resources Complicate Efforts to Effectively Oversee Charitable Organizations; EO Receives Indications of Noncompliance from a Variety of Sources; Limited Resources Contribute to Fewer Examinations; The Impact of EO Compliance Efforts on Charitable Organizations Is Unknown, Due to Lack of Key Performance Measures and Goals and Lack of Complete Data. Lack of Quantitative, Results-Oriented Goals and Measures for Improving Compliance Limits Ability to Assess Effectiveness of EO OversightNew Streamlined Application and Review Process Raises Questions about Whether IRS Will Collect Adequate Information to Indentify Noncompliance among Smaller-Sized Organizations; Lack of Timely and Complete Data Limits IRS Ability to Provide Adequate Oversight of Charitable Organizations and to Provide for the Transparency of the Tax-Exempt Sector. Uncertainty about How Taxpayer Data Can Be Shared and Used Limits Collaboration between IRS and State Charity RegulatorsConclusion; Matter for Congressional Consideration; Recommendations; Agency Comments and Our Evaluation; Appendix I: Scope and Methodology; Appendix II: Tax Benefits and Requirements for Different Types of Tax Exempt Organizations; Types of Tax Exempt Organizations Listed in Section 501; Appendix III: Additional Tables; End Notes; End Notes for Appendix I; End Notes for Appendix II; Chapter 2: Tax Issues Relating to Charitable Contributions and Organizations; Summary. IntroductionCurrent Tax Benefits; Charitable Contributions; Tax Exemption of Earnings; Expanding Benefits for Charitable Contributions and Organizations; Provisions Considered But Not Adopted; Deduction for Non-Itemizers; Reducing the Foundation Investment Income Excise Tax; Raising the Corporate Charitable Deductions Cap; Unrelated Business Income of Charitable Remainder Trusts; Disaster Provisions Enacted on a Temporary Basis; Provisions Now Part of the Extenders25; Contributions of Conservation Property; IRA Rollover Provision; Extending the Deduction for Food Inventory to all Businesses.
IRS oversight of charitable organizations helps to ensure they abide by the purposes that justify their tax exemption and protects the sector from potential abuses and loss of confidence by the donor community. In recent years, reductions in IRS's budget have raised concerns about the adequacy of IRS oversight. This book describes the charitable organization sector; describes IRS oversight activities; determines how IRS assesses its oversight efforts; and determines how IRS collaborates with state charity regulators and U.S. Attorneys to identify and prosecute organizations suspected of engagi.
9781634826013
2020677433
Nonprofit organizations--Taxation--United States. Tax exemption--Law and legislation--United States.