Formerly known as Planned Giving Round Table of Arizona
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The IRS is proposing a rule that would encourage nonprofits to ask donors for their Social Security Numbers and then submit them to the IRS along with donors' names, addresses, and donation amounts. Yet, on its website the IRS advises taxpayers to only give out their Social Security Number when "absolutely necessary." Most nonprofits believe that "never" is a better answer; as in a charitable nonprofit should never be asking donors for a Social Security Number when soliciting donations. The proposed regulations would give nonprofits the option to file a separate new information return with the IRS every year and then send a copy of each filing to each individual donor, for contributions of more than $250 in value. A similar mandatory proposal was considered and rejected in the past based on the numerous legal, policy, and confidentiality problems it raised. While this proposal is for an optional reporting process now, it could theoretically open the door to mandatory reporting in the future.
Learn more about the proposed regulations, read an analysis by the National Council of Nonprofits, and find out more about what you can do to take action on behalf of your donors, fellow nonprofits, and those you serve, with these helpful links:
"Individually, we are one drop. Together, we are an ocean." Ryunosuke Satoro
Read the latest edition of Alliance of Arizona Non Profits The Connector......
Read the latest edition of the ASU Lodestar Center Non Profit News......
Read the latest edition of the Alliance of Arizona Nonprofits Connector........
Read the latest edition of the Alliance of Arizona Non-Profits The Connector.......
Phoenix Theatre
Posted November 5, 2015
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