Author: Publisher: DIANE Publishing
ISBN: 1428931961
Category :
Languages : en
Pages : 52
Book Description
Taxexempt sector governance, transparency, and oversight are critical for maintaining public trust : testimony before the House Committee on Ways and Means
Author: Publisher: DIANE Publishing
ISBN: 1428931961
Category :
Languages : en
Pages : 52
Book Description
Tax-Exempt Sector
Author: David M. Walker (au)Publisher: DIANE Publishing
ISBN: 9781422300992
Category : Law
Languages : en
Pages : 62
Book Description
The tax-exempt sector under section 501(c) of the IRS Code covers over a million-&-a-half tax-exempt entities (TEE) of varying sizes & purposes. Transparency over TEE activities is aided by public access to their annual tax returns. Oversight can help ensure adherence to exempt purposes, protect against abuses, & sustain public support for the sector. This report addressed: (1) the growth of the section 501(c) tax-exempt sector; (2) the role of governance & transparency in ensuring that TEE function effectively & with integrity; (3) IRS's capacity for overseeing the TEE sector, incl. its results & efforts to address critical compliance problems; & (4) states' oversight & their relationship with IRS in overseeing TEE. Charts & tables.
Tax-Exempt Sector Governance Transparency and Oversight Are Critical for Maintaining Public Trust
Author: Financial institutions issues regarding the taxexempt status of credit unions : testimony before the Committee on Ways and Means, House of Representatives
Author: Publisher: DIANE Publishing
ISBN: 1428932968
Category :
Languages : en
Pages : 35
Book Description
Review of Credit Union Tax Exemption
Author: United States. Congress. House. Committee on Ways and MeansPublisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 228
Book Description
Review of credit union tax exemption : hearing before the Committee on Ways and Means, U.S. House of Representatives, One Hundred Ninth Congress, first session, November 3, 2005.
Author: Publisher: DIANE Publishing
ISBN: 1422333892
Category :
Languages : en
Pages : 226
Book Description
The Tax-exempt Hospital Sector
Author: United States. Congress. House. Committee on Ways and MeansPublisher:
ISBN:
Category : Law
Languages : en
Pages : 160
Book Description
Payments in Lieu of Taxes
Author: Daphne A. KenyonPublisher:
ISBN: 9781558442160
Category : Municipal services
Languages : en
Pages : 0
Book Description
Charitable nonprofit organizations, including private universities, nonprofit hospitals, museums, soup kitchens, churches, and retirement homes, are exempt from property taxation in all 50 states. At the same time, these nonprofits impose a cost on municipalities by consuming public services, such as police protection and roads. Payments in lieu of taxes (PILOTs) are payments made voluntarily by these nonprofits as a substitute for property taxes. In recent years, municipal revenue pressures have led to heightened interest in PILOTs, and over the last decade they have been used in at least 117 municipalities in at least 18 states. Large cities collecting PILOTs include Baltimore, Boston, Philadelphia, and Pittsburgh. Boston has one of the longest standing and the most revenue productive PILOT program in the United States. PILOTs are a tool to address two problems with the property tax exemption provided to nonprofits. First, the exemption is poorly targeted, since it mainly benefits nonprofits with the most valuable property holdings, rather than those providing the greatest public benefit. Second, a geographic mismatch often exists between the costs and benefits of the property tax exemption, since the cost of the exemption in terms of forgone tax revenue is borne by the municipality in which a nonprofit is located, but the public benefits provided by the nonprofit often extend to the rest of the state or even the whole nation. PILOTs can provide crucial revenue for certain municipalities, and are one way to make nonprofits pay for the public services they consume. However, PILOTs are often haphazard, secretive, and calculated in an ad hoc manner that results in widely varying payments among similar nonprofits. In addition, a municipality's attempt to collect PILOTs can prompt a battle with nonprofits and lead to years of contentious, costly, and unproductive litigation. For this policy focus report, authors Daphne A. Kenyon and Adam H. Langley have researched the continuing policy debate over property tax exemptions among municipalities and nonprofit organizations, and they offer the following recommendations. PILOTs are one revenue option for municipalities. They are most appropriate for municipalities that are highly reliant on the property tax and have a significant share of total property owned by nonprofits. For example, a Minnesota study found that while PILOTs could increase property tax revenue by more than ten percent in six municipalities, there was negligible revenue potential from PILOTs for the vast majority of Minnesota cities and towns. Similarly, PILOTs are not appropriate for all types of nonprofits. PILOTs are most suitable for nonprofits that own large amounts of tax-exempt property and provide modest benefits to local residents relative to their tax savings. Municipalities should work collaboratively with nonprofits when seeking PILOTs. The best PILOT initiatives arise out of a partnership between the municipality and local nonprofit organizations, because both sectors serve the general public and have an interest in an economically and fiscally healthy community. In some cities, case-by-case negotiation with one or several nonprofits is best, as is the case between Yale University and New Haven. In cities with a large number of nonprofits, such as Boston, creating a systematic PILOT program can promote horizontal equity among tax-exempt nonprofits and raise more revenue than negotiating individual agreements.
The Puppet Masters
Author: Emile van der Does de WilleboisPublisher: World Bank Publications
ISBN: 0821388967
Category : Law
Languages : en
Pages : 230
Book Description
This report examines the use of these entities in nearly all cases of corruption. It builds upon case law, interviews with investigators, corporate registries and financial institutions and a 'mystery shopping' exercise to provide evidence of this criminal practice.
A Vision for a New IRS
Author: Bob KerreyPublisher: DIANE Publishing
ISBN: 0788143395
Category :
Languages : en
Pages : 209
Book Description
It has been over 40 years since Congress and the President have considered significant reforms to the IRS. With this report, once again there is an opportunity to overhaul the IRS and transform it into an efficient, modern, and responsive agency. Presents an integrated approach to changes geared toward making the IRS more user friendly by addressing: congressional oversight, executive branch governance, IRS management and budget; workforce and culture; IRS strategic objectives: customer service, compliance, and efficiency gains; modernization; electronic filing; tax law simplification; taxpayer rights; and financial accountability.