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Less Reporting for Tax-Exempt Organizations

This act changes reporting rules for certain tax-exempt organizations, raising the income threshold above which they must file detailed reports. This means less bureaucracy for smaller non-profit organizations and other entities, potentially making it easier for them to operate. The changes also affect the disclosure of donor information.
Key points
More organizations will be exempt from filing annual financial reports, as the income threshold increases from $5,000 to $50,000.
Some organizations will not be required to disclose the names and addresses of their contributors in annual returns, increasing donor privacy.
New rules also apply to political organizations, which will still need to report significant donor information.
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Additional Information
Print number: 117_HR_4889
Sponsor: Rep. Kelly, Mike [R-PA-16]
Process start date: 2021-07-30