U.S. Charity abuses eyed by congress.WASHINGTON -- Reacting to revelations, of abuses by a number of charities, U.S. congressional tax committees are scrutinizing tax exemptions for charities and drafting possible revisions. The Senate Finance Committee is considering changes that would * require greatly increased disclosure, * require outside audits of many charities, * stiffen stiff·en tr. & intr.v. stiff·ened, stiff·en·ing, stiff·ens To make or become stiff or stiffer. stiff the rules covering credit counseling Credit counseling (known in the United Kingdom as debt counselling) is a process offering education to consumers about how to avoid incurring debts that cannot be repaid. This process is actually more debt counseling than a function of credit education. groups, and * require non-profits to re-file with the Internal Revenue Service every five years to justify their continued non-profit status. Congressional interest has been aroused by scandals that occurred in respected organization such as United Way and the Nature Conservancy. Some tax-exempt groups have been acting as "accommodation parties" in abusive tax shelters Abusive tax shelter A limited partnership that the IRS judges to be claiming tax deductions illegally. abusive tax shelter A tax shelter in which an improper interpretation of the law is used to produce tax benefits that are . Billing practices of some non-profit hospitals are under scrutiny of the House of Representatives Ways and Means WAYS AND MEANS. In legislative assemblies there is usually appointed a committee whose duties are to inquire into, and propose to the house, the ways and means to be adopted to raise funds for the use of the government. This body is called the committee of ways and means. Committee. |
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