News Clips 8/21/2007

"The Internal Revenue Service today released nearly 300 pages of public comments about the proposed new version of its Form 990 informational tax return. The proposed form, which all nonprofit groups with more than $25,000 in annual revenue must file annually with the tax agency, would require organizations to disclose more information about their financial operations and is designed to make it easier for the IRS to enforce tax laws," reports the Chronicle of Philanthropy.

"President Bush now is expected to sign a major lobbying and ethics reform bill (S. 1) despite his reservations about the measure, White House officials indicated Aug. 20. The officials, who asked not to be identified...[said] that Bush still believes the measure is 'far from perfect,' but he is not likely to veto it when congressional Democratic leaders send him the measure in September," according to BNA Money & Politics (subscription required).