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Tax-Exempt Organizations: Less Reporting to IRS, More Donor Privacy.

This act aims to reduce the amount of information certain tax-exempt organizations must report to the IRS. This means fewer organizations will need to disclose donor information, potentially impacting donor privacy and how these organizations operate.
Key points
Increases the gross receipts threshold from $5,000 to $50,000 for organizations required to report to the IRS.
Expands the types of organizations exempt from reporting, including certain investment-focused entities.
Exempts most organizations from disclosing names and addresses of contributors in their annual returns.
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Additional Information
Print number: 117_S_1777
Sponsor: Sen. Braun, Mike [R-IN]
Process start date: 2021-05-20