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Changes to Tax-Exempt Organization Reporting Requirements

This bill alters reporting rules for certain tax-exempt organizations, raising the income threshold for filing reports. This aims to reduce administrative burdens for smaller organizations, but could impact financial transparency for some entities.
Key points
More organizations will be exempt from filing annual returns with the IRS, as the gross receipts threshold increases from $5,000 to $50,000.
Certain organizations, including those primarily engaged in investment activities, will also be exempt from reporting, provided they have no significant lobbying or political activity.
The bill seeks to limit the requirement for most organizations to disclose the names and addresses of contributors, which could affect donor privacy but also funding transparency.
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Additional Information
Print number: 118_HR_4622
Sponsor: Rep. Kelly, Mike [R-PA-16]
Process start date: 2023-07-13