Ways and Means Chair to Continue Hearings on Tax Exempt Organizations

WASHINGTON-House Ways and Means Committee Chairman Bill Thomas notified House leadership in a letter that he planned to continue with a series of hearings concerning tax-exempt organizations. The Feb. 2 letter contained the entire agenda at this point for the committee, including hearings on the revamping of the tax code and social security. One of the items under the jurisdiction of the Subcommittee on Oversight is a review of tax-exempt organizations. The subcommittee, he wrote, "intends to hold hearings in coordination with the full Committee and other Subcommittees on the appropriate role of tax-exempt organizations." Thomas continued, "The Subcommittee will review current law, the adequacy of IRS oversight and reporting requirements, and consider recommendations for reform." He also said the subcommittee would look into the role of 527 organizations in political campaigns. Last spring, Thomas announced that he would hold hearings on the societal good of certain tax-exempt organizations, specifically mentioning hospitals and credit unions.