S. 215

Referred to Committee

Spotlight Act

Introduced 2/3/2021•117th Congress•Senate

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Read twice and referred to the Committee on Finance.

2/3/2021 • Senate

Summary

Spotlight Act

This bill renders null and void final Internal Revenue Service (IRS) regulations published on May 28, 2020, relating to the reporting requirements of tax-exempt organizations.

The bill requires tax-exempt organizations that fall under sections 501(c)(4), 501(c)(5), and 501(c)(6) of the Internal Revenue Code (e.g., social welfare organizations, labor organizations, business leagues) to disclose the names and addresses of all substantial contributors (persons who contribute more than $5,000 per year to such organizations) on their information returns.

The bill also eliminates the authority of the IRS to provide exceptions to the disclosure requirements for tax-exempt organizations. This provision does not apply to determinations made by the IRS before July 16, 2018.

Introduced in Senate • 2/3/2021

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Topics & Subjects

Policy Area: Taxation

Administrative law and regulatory proceduresDepartment of the TreasuryGovernment information and archivesInternal Revenue Service (IRS)Labor-management relationsTax administration and collection, taxpayersTax-exempt organizations