>From today's Washington Post..... By Albert B. Crenshaw "In the wake of a long-running series of scandals and controversies involving charities and nonprofits, Congress's tax-writing committees are launching an effort this week to crack down on fraudulent activities and tighten laws governing tax exemptions for those groups.
Congress has reacted angrily to revelations of abuses by a wide variety of charities, including scandals at well-established organizations such as United Way and the Nature Conservancy, and the disclosure that some tax-exempt groups have been acting as "accommodation parties" in abusive tax shelters. "It's obvious from the abuses we see that there's been no check on charities. Big money, tax free, and no oversight have created a cesspool in too many cases," Senate Finance Committee Chairman Charles E. Grassley (R-Iowa) said late last week. "It's time for Congress to send a message." Added Sen. Max Baucus (Mont.), the ranking Democrat on the panel: "The examples of abuse surrounding charitable organizations are growing at an alarming rate. . . . These actions are immoral and inexcusable -- and threaten to taint the reputation of all charitable organizations." Other proposals under consideration include: . Revoking the tax-exempt status of nonprofits involved in tax shelters." Vicky here: In Minneapolis, a "non-profit" is added to almost every real estate development - to get more public money and to avoid paying taxes. This could become very interesting: When the IRS starts auditing, I hope The West Bank Community Development Corporation and Seven Corners Apartments are at the top of its list. Vicky Heller North Oaks and Cedar-Riverside Link to entire article: http://www.washingtonpost.com/wp-dyn/articles/A56406-2004Jun20.html REMINDERS: 1. Think a member has violated the rules? Email the list manager at [EMAIL PROTECTED] before continuing it on the list. 2. Don't feed the troll! Ignore obvious flame-bait. For state and national discussions see: http://e-democracy.org/discuss.html For external forums, see: http://e-democracy.org/mninteract ________________________________ Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[EMAIL PROTECTED] Subscribe, Un-subscribe, etc. at: http://e-democracy.org/mpls
