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Wednesday, July 18th, 2018

Treasury Department Policy Change Protects Privacy Of Wealthy ‘Dark Money’ Donors

Author:    
Source:     The Huffington Post/Reuters
Publication Date:     07/17/2018 06:06 am ET
 Link: Treasury Department Policy Change Protects Privacy Of Wealthy ‘Dark Money’ Donors
Stephan:   Here is just one of the many things the quisling Republicans in Congress could do to try and sort out the damage being done by the Trump administration: Yesterday a Russian spy was arrested largely for her connivance with the NRA to funnel Russian influence and money into the electoral process on behalf of the Republicans and Trump. At almost the same time the Treasury Department announced that the NRA will no longer be required to reveal where their money comes from. Do you think that might be worth some Congressional oversight? Here's the story.

U.S. Secretary of the Treasury Steven Mnuchin testifies to the House Financial Services hearing on state of the international financial system on Capitol Hill in Washington, U.S., July 12, 2018.
Credit: Reuters/Joshua Roberts

WASHINGTON, D.C. — The U.S. Treasury said on Monday that it will no longer require certain tax-exempt organizations including politically active nonprofit groups, such as the National Rifle Association and Planned Parenthood, to identify their financial donors to U.S. tax authorities.

The policy change, heralded by conservatives as an advance for free speech, maintains donor disclosure requirements for traditional charity groups organized to receive tax-exempt donations under a section of the Internal Revenue code known as 501(c)(3), the Treasury said.

But the move frees labor unions, issue advocacy organizations, veterans groups and other nonprofits that do not receive tax-exempt money from meeting confidential disclosure requirements set in place decades ago.

“Americans shouldn’t be required to send the IRS information that it doesn’t need to effectively enforce […]

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