April 23, 1998
Idea to Change Filing Rules Draws Fire from Regulators
State charity regulators are opposed to an idea recently floated by the Internal Revenue Service: allowing many more small tax-exempt groups to avoid filing informational tax returns that detail their finances. Non-profit organizations must provide such a return -- known as the Form 990 -- if their annual gross receipts total more than $25,000.
In a statement issued last year (Announcement 97-115, Internal Revenue Bulletin 1997-47), the I.R.S. said it
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