By Tim Devaney, staff writer, The Hill |
Nonprofit groups are assailing a proposed rule from the Internal Revenue Service, warning the regulations could dry up donations and leave them vulnerable to hacking.
The IRS is proposing new requirements for nonprofits to collect the Social Security numbers of their donors.
Currently, nonprofits send donors a form verifying their contributions, which they use for tax purposes. However, the IRS is proposing changes that would require these nonprofits to collect their donors’ SSNs to provide directly to the agency.
But this could put a bull’s-eye on nonprofits, critics say.Button Text