Nonprofit update: Proposed IRS Social Security rule withdrawn

Welcome news for the nonprofit sector

The IRS has withdrawn a proposed rule, reported earlier by MALC, that caused great concern among nonprofits.

IRS Withdraws Proposed Rule on Social Security Numbers

‘ “The Treasury Department and the IRS received a substantial number of public comments in response to the notice of proposed rulemaking,” the IRS said in its statement. “Many of these public comments questioned the need for donee reporting, and many comments expressed significant concerns about donee organizations collecting and maintaining taxpayer identification numbers for purposes of the specific-use information return.”

‘ “This is a prime example of the power of nonprofit advocacy and what can be achieved when charitable nonprofits speak up to protect the public, our missions, and the communities we serve,” said Tim Delaney, president and CEO of the National Council of Nonprofits…’

Read the entire story at the Philanthropy News Digest where you will also see a collection of links to documents, statements, and further news on the IRS decision:

http://philanthropynewsdigest.org/news/irs-withdraws-proposed-rule-on-social-security-numbers