527 Reform Bill Sponsors Circulate Amended Version

A draft substitute amendment to S. 271, the 527 Reform Act of 2005, is being circulated by sponsors Sens. John McCain (R-AZ) and Russell Feingold (D-WI). It removes some problems with the original bill, but still would subject independent political organizations to the same regulations as parties and federal candidates.

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Administration Stifles Dialog on Social Security

The Bush administration has denied use of public facilities to a group critical of its version of Social Security reform, while using federal resources to pay for propaganda and promotion of its agenda. It refused to allow a women's group to hold a conference on Social Security at the National Archives because they did not have a speaker supporting private accounts. The same week three people were ejected from a federal government supported town hall meeting on Social Security in Colorado because their car had an anti-war bumper sticker.

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IRS Checking Form 990 Against Watch Lists

The Internal Revenue Service (IRS) is screening applications for tax-exempt status for terrorist names, IRS Commissioner Mark W. Everson testified at an April 5 Senate Finance Committee hearing on nonprofit accountability and tax compliance. The IRS's counter-terrorism project, focusing on the abuse of charities, is developing an electronic capability to review filed Forms 990 and 990-PF for terrorist names.

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Free E-Filing for IRS Form 990 Available

The National Center for Charitable Statistics (NCCS) is offering free electronic filing for nonprofits that file the annual Form 990 to the Internal Revenue Service (IRS) online. The process offers features that make filling out the form easier and helps make it more accurate.

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Senate Finance Committee Discusses Nonprofit Accountability

On April 5, the Senate Finance Committee continued its examination of accountability, governance and oversight of the nonprofit sector in a hearing titled "Charities and Charitable Giving: Proposals for Reform." The hearing focused mostly on the valuation of non-cash contributions, excessive compensation, transparency and the sharing of information.

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Billions Lost Annually Due to Tax Evasion

As tax day approached last Friday, there were a number of events in Washington, DC, dedicated to the issue of tax evasion and compliance. There is great concern in Congress and also among tax experts around the country about the detrimental effect the lack of tax compliance has on individual Americans and the broader U.S. economy.

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No Compromise Seen in Budget Negotiations

It has been over a month since the House and Senate passed their fiscal year 2006 budget resolutions, yet GOP negotiators have not made significant strides toward reaching compromise between the two chambers. While only the Senate has named conferees to the conference committee, informal talks between House and Senate leaders have begun to point to difficulties ahead.

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House Again Passes Irresponsible Estate Tax Repeal

For the third time in four years the House of Representatives passed a bill last week to permanently repeal the estate tax. The irresponsible and dangerous bill (H.R. 8) will cost $290 billion over the next 10 years but hidden within it are astronomically higher costs after the first decade. The House passed H.R. 8, sponsored by Rep. Kenny Hulshof (R-MO), by a vote of 272-162, with 42 Democrats and all but one Republican supporting the bill. The tally showed little change from the last House vote on estate tax repeal. In 2003, a bill passed 264-163, with 41 Democrats supporting it.

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Watcher: April 4th, 2005

Federal Budget
  • Despite Colorado's Disaster, More States Consider Restrictive Budget Rules
  • President's Tax Panel Hits the Road

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Latest Watcher

Be sure to read the latest issue of our biweekly newsletter, The Watcher. Reg policy articles this time: White House Adds Rule to Hit List After Calling It ‘Accomplishment’ Sunset, Results Commission Proposals Likely Agencies Continue to Abandon Protective Plans

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