Thursday 17 December 2015

Non-profits assail IRS rule

Non-profit groups are assailing a proposed rule from the Internal Revenue Service, warning the regulations could dry up donations and leave them vulnerable to hacking.

The IRS is proposing new requirements for non-profits to collect the social security numbers of their donors.

Currently, non-profits send donors a form verifying their contributions, which they use for tax purposes. However, the IRS is proposing changes that would require these non-profits to collect the social security numbers of their donors to provide directly to the agency.

But this could put a bull’s eye on non-profits, critics say. For the full article click here 



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