Thursday, May 10, 2012
The Chronicle of Philanthropy reports that a congressional hearing will be held next week to examine various tax issues affecting nonprofits organizations. Congressman Charles W. Boustany Jr., a Lousiana Republican and Chairman of the Subcommittee on Oversight of the Committee on Ways and Means, announced that the subcommittee’s hearing will be the first in a series of hearings on the tax-exempt sector and Internal Revenue Service oversight of tax-exempt activities. The official announcement describes the focus of the hearing as follows:
The hearing will focus on certain current issues related to tax-exempt organizations, including the current IRS compliance initiative related to Universities, recently enacted reporting requirements for tax-exempt hospitals, recent efforts by tax-exempt organizations to design and implement good governance standards, and taxpayer involvement in redesigning the Form 990. In addition, the hearing will discuss the history of recent legislative changes to the tax code dealing with tax-exempt organizations and what prompted those changes.
Those who are not scheduled for an oral appearance may still submit a written statement for consideration by the committee and for inclusion in the printed record of the hearing.