That can be traced to retirements and the explosive growth of the tax-exempt sector
that includes duplicative organizations and bureaucracies that evolved across decades.
It was like a skunk at a garden party, and to a large segment of the tax-exempt sector
, the testimony at this summer's congressional hearing had to have been odiferous.
Simmons is recognized as “highly recommended for tax advice in charitable gift planning and tax-exempt sector
The form, which had not been significantly redesigned for more than 40 years, needed an overhaul to reflect the drastic changes in the tax-exempt sector
and to capture the reporting of community benefits by tax-exempt hospitals.
"The challenge is to encourage good governance and best practices and so preserve confidence in the tax-exempt sector
without imposing regulations that inhibit religious freedom or are functionally ineffective," Grassley said in a statement Jan.
On average, nurses have $64,000 in their workplace savings plans, compared to average balances of $48,000 among all workers in tax-exempt sector
plans and $62,500 among all workers in corporate sector plans.
The origins of the tax-exempt sector
in the United States predate the formation of the republic.
The tax-exempt sector
has faced increased scrutiny in recent years as it has grown in size and complexity.
As part of its continuing oversight of the tax-exempt sector
, the House Committee on Ways and Means asked GAO to address (1) the historical basis for the tax-exempt status of credit unions; (2) the arguments for and against taxation, including estimates of potential revenue from eliminating the exemption; (3) the extent to which credit unions offer services distinct from those offered by banks of comparable size, and serve low-and moderate-income individuals; and (4) the extent to which credit unions are required to report information on executive compensation and assessments of their internal controls.
According to the Independent Sector, an organization that reports on the state of the tax-exempt sector
, the number of such organizations has increased by more than 50% in the past decade.
"Defining Value: A Report on Defined Contribution Plans in the Tax-Exempt Sector
An obvious place to look for additional revenue is the tax-exempt sector
. Nonprofit organizations today account for 6 percent of the gross domestic product, employ 7 million people (or 1 out of every 18 members of the labor force), and control assets of $1 trillion.