S. 1777

Referred to Committee

Don't Weaponize the IRS Act

Introduced 5/20/2021•117th Congress•Senate

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Read twice and referred to the Committee on Finance.

5/20/2021 • Senate

Summary

Don't Weaponize the IRS Act

This bill codifies regulations promulgated by the Trump Administration exempting certain tax-exempt organizations from specified reporting requirements. Specifically the bill

increases from $5,000 to $50,000 the gross receipts threshold used to determine the eligibility of tax-exempt organizations for the exemption from certain disclosure and reporting requirements;
expands the definition of organization to include tax-exempt charitable organizations and organizations with no significant activities relating to lobbying, political activity, and the operation of a trade or business;
exempts from disclosure the names and addresses of contributors to an organization in its annual informational return; and
extends exemptions from reporting requirements to political action committees (i.e., 527 organizations).

Introduced in Senate • 5/20/2021

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Topics & Subjects

Policy Area: Taxation

Elections, voting, political campaign regulationSocial work, volunteer service, charitable organizationsTax administration and collection, taxpayersTax-exempt organizations