Washington -- In an effort to strengthen its oversight of non-profit institutions, the Internal Revenue Service will begin comprehensive audits this summer of roughly 400 foundations to determine whether they were in compliance with tax laws.
As part of the sweep, the IRS will look at compensation levels of those who head tax-exempt organizations, particularly those whom the agency feels draw high salary levels as well as reviewing all requisite IRS disclosure forms.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access