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House Ways and Means Committee Hears Overview of the Tax-Exempt Sector
The House Ways and Means Committee held a hearing on Wednesday, April 20 that examined the tax-exempt sector, including its legal history, size, scope, impact on the economy, need for congressional and IRS oversight, and what the IRS is doing to improve compliance with the law.
Witnesses included George Yin of the Joint Committee on Taxation, the Honorable David Walker of the U.S. Government Accountability Office, Douglas Holtz-Eakin of the Congressional Budget Office and several legal experts. Their testimony is available on the committee's website.
The committee had asked for an overview of all 28 tax-exempt categories under IRS Section 501(c), which covers organizations ranging from public charities and religious organizations to labor unions, trade associations, social clubs, fraternal societies, credit unions, cemetery companies and cooperatives.
Ways and Means Chair Bill Thomas said that Committee’s hearing wasn’t meant to be a parallel to the recent Senate Finance Committee hearing, and that legislation in the House is not imminent. Instead, he hoped to create a base from which lawmakers can begin to understand the sector and consider what remedies may be necessary to enhance transparency, clarity, and enforcement.
The committee continues to accept written statements, which must be submitted by May 4. To submit, go to Hearing Archives page on the Committee’s website and select “Hearing on an Overview of the Tax-Exempt Sector.” Then, follow the online instructions.
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