Friday, June 15, 2007

"I.R.S. Seeks More Charity Transparency"

The New York Times reports this morning that the IRS has "proposed a vast overhaul of the main tax form for charities, an effort to make it easier for the IRS and the public to tell how much nonprofit groups are paying their executives and how much of their money goes toward fund-raising."

More information on the redesigned form, Form 990, at the IRS website here. The deadline for comments is Sept. 14. The IRS plans to have the new form in place "in time for charities to use it to report for 2008."