Do 501(c)(4) organizations need to disclose their donors? There are two overlapping regimes that dictate the answer: tax and federal election law.
On July 16th, the IRS issued controversial guidance eliminating the requirement for non-charitable exempt organizations to report the names of contributors on their tax returns.
The guidance is the end, for now, of a simmering political controversy relating to information available to the government regarding “dark money” and donations to non-charitable exempt organizations.
Under the Tax Cuts and Jobs Act, colleges and universities with endowments over $500,000 per student are now required to pay a 1.4% excise tax on investment earnings.
The IRS has now provide guidance that will take a bit of the bite out of this new tax -- at least at first.
On May 7th, the IRS introduced a new platform that will allow access to tax-exempt organizations’ public information more quickly and easily (See IRS-2018-116.) The Tax Exempt Organization Search (TEOS) replaces the old platform, EO Select Check. On TEOS, images of Form 990 recently filed will be available for the first time.