The Putting Trust in Transparency Act would require the IRS to publicly release Schedule B of Form 990 for tax-exempt organizations that receive federal funding. The released forms would show each contributor’s name, ZIP code, and total contribution. The IRS would have 60 days after processing a form to make it public. An organization that fails to file Schedule B could lose its tax-exempt status after notice and a 60-day period to file. The changes would apply to returns for tax years beginning after enactment. The bill has been referred to the House Committee on Ways and Means.
If you contribute to a covered organization, your name, ZIP code, and total contribution could become public. Covered organizations would need to file Schedule B to keep their tax-exempt status. The bill has not been enacted.
No publicly available information.
The bill’s findings say public disclosure would increase transparency and help lawmakers oversee the use of federal funds.
No publicly available information.