• The "Truth in Tax Exempt Giving Act of 1992" was introduced recently in the United States Senate by Senator Warner. The bill, if enacted, would require charities to disclose to any donor (who contributes at least $25) the salaries of the 5 highest compensated employees. The bill would accomplish its goal by modifying IRS Form 990—the annual information return filed by most charitable organizations. Note that churches, and some other religious organizations, are exempt from the 990 filing requirement, and accordingly they would not be covered by this bill if it becomes law. The bill itself confirms that churches would be exempt from the disclosure requirements. In explaining the purpose for the legislation, Senator Warner observed:
I am pleased to come before the Senate today to introduce legislation, which, I believe, will strengthen public confidence in tax-exempt giving. In ...
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