October 16, 2008
IRS Asks Colleges to Disclose New Details
As part of its efforts to police nonprofit organizations, the Internal Revenue Service will ask some 400 colleges to disclose intimate financial details, including spending on perks like housekeeping services for executives, and their income and losses on business activities like catering and travel tours.
The IRS plans to disclose the overall findings of the 42-page questionnaire, but will not identify individual institutions. It also said the responses could lead to audits and even
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