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Credit union officials oppose Sen. Hatch’s IRS proposal.

Requiring federal credit unions to file informational tax returns with the IRS will increase the regulatory burden the institutions face and would accomplish little, members of the credit union community said Tuesday.

“Although NAFCU and our members support transparency, requiring credit unions to file additional paperwork is unlikely to increase transparency in a material manner and would only serve to increase the already staggering regulatory burden imposed on credit unions,” NAFCU President/CEO B. Dan Berger said, in a letter to Acting IRS Commissioner David Kautter, on Tuesday.

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David Baumann


Credit Union Times

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