Monday, November 10, 2008

IS Conference -- Future predictions from the IRS Commissioner

The economy is on everyone's mind. Nonprofits are worried. IRS created 5 year teaching plan. It includes outreach and guidance to NPs, ongoing transparency and identifying and stopping misuse or abuse of charity funds. Watch out -- the IRS will start to pay particular attention to Universities and Hospitals. The Commissioner's one piece of really good advice was don't do a business deal if it doesn't feel right.

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