Non-Profits Unhappy With IRS Proposed Rule On Charitable Giving

Non-Profits Unhappy With IRS Proposed Rule On Charitable Giving

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“This is a huge issue for nonprofits — and the American public,” Tim Delaney, CEO of the National Council of Nonprofits, which opposes the rule, told Fox News.

Currently, organizations are only required to send a contributor who gives $250 or more “contemporaneous written acknowledgement (CWA)” which shows how much was donated and if any services or gifts received in return.

The rule under consideration by the IRS would instead, if a 501 (c)(3) decides to, require the organization to send donors’ social security numbers to the IRS on a form to the agency every year by February 28. Each donor would receive a copy of what is sent to the IRS.

Source Name: 
Daily Caller
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