Bill > HR4889

This bill, titled the "Don't Weaponize the IRS Act," aims to amend the Internal Revenue Code to codify the Trump administration's rule on reporting requirements for exempt organizations. The key provisions of the bill include: 1. Increasing the gross receipts threshold for organizations exempt from reporting requirements from $5,000 to $50,000, expanding the types of organizations that are exempt from reporting, including those with no significant activity other than investment activity in the United States. 2. Clarifying the application of reporting requirements to section 527 organizations (political organizations) by specifying that they must file annual returns in the same manner as organizations exempt from taxation under section 501(a). 3. Exempting most organizations from having to report the names and addresses of their contributors, except for section 527 organizations, which must continue to report the names and addresses of substantial contributors. The amendments made by this bill would apply to taxable years ending after the date of its enactment.

Budget and Finance

https://www.congress.gov/bill/117th-congress/house-bill/4889/all-info