Chamber Advocacy News

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December 15, 2015
Chamber Advocacy Alert
Tell the IRS by Wed. Dec. 16 What You Think About Its
Proposed Rule That Threatens Donor, Nonprofit Security
The Internal Revenue Service is proposing an alternative voluntary reporting regime
in which nonprofits would ask donors for their Social Security numbers, and then store
and report them to the IRS, potentially imposing costly burdens, shrinking donations,
and risking identity theft by scam artists. 
 
Theâ?¯proposed regulationsâ?¯would give nonprofits the option of filing a separate new
information return with the IRS and individual donors by February 28 every year to
substantiate contributions of more than $250.
A similar mandatory proposal wasâ?¯considered and rejectedâ?¯in the past based on numerous
legal, policy, and confidentiality problems it raised. Criticism of the proposal is nonpartisan and consistent.