New proposal from IRS has charities and taxpayers grumbling…

especially those concerned about ID theft.  Current law requires charities to provide a written acknowledgement to anyone who donates a gift of 250 or more on any given day.  This new proposal allows a charity to instead elect to provide the IRS with an annual list of names and social security numbers of individuals who donated to them.  Charities don’t like it because they would be required to obtain social security numbers from their donors and then securely store that information.  Many individuals don’t like the idea because it means they would need to provide their social security numbers to each applicable charity to which they donate.  Since ID thieves have successfully stolen financial data from major retailers, banks, and even the IRS web site, I’m sure they would be happy for the opportunity to steal that information from charities.

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