Senate Committee to Hold Hearing on Charities

On June 1 Senate Finance Committee Chair Charles Grassley (R-IA) and Ranking Member Max Baucus (D-MT) announced a hearing on charitable giving problems and best practices. The announcement said the hearing, scheduled for the morning of June 22nd, will address the following issues: åá Governance and best practices of charities; åá Charities accommodating tax shelters; åá Donor gifts of tangible and intangible property; and åá Current problems and issues in the charitable community. Sen. Grassley said, "Lately, more and more tax problems involving charitable giving have come out. Our oversight should include which transactions are in keeping with the intent and spirit of the tax code, which may be inappropriately exploiting charities‰€ª tax-exempt status, and which may be unfairly enriching individuals and corporations." Witnesses will include IRS Commissioner Mark Everson, state charity officials, individuals with knowledge of abuses and experts on best practices and governance for charities. The hearing will held in room 215 of the Dirksen Senate Office Building in Washington, D.C. A time and witness list will be announced later.
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