October 18, 2001
How to Help the IRS Improve Charity Oversight
The Internal Revenue Service and most states do a poor job of policing tax-exempt groups, and much of the reason can be traced to a lack of adequate funds. But the money to fix the problem is readily available. It should come from the federal excise tax that is levied annually on the net investment income of private foundations.
Currently, the excise tax is imposed under a two-tiered system that neither provides an adequate incentive for increased grant making nor makes much economic
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