Tax Exemption Accountability Act

Summary

Tax Exemption Accountability Act - Amends the Internal Revenue Code to impose a penalty tax, in the case of self-dealing transactions between disqualified persons and certain charitable tax-exempt organizations, on: (1) the organization; (2) the management; and (3) the beneficiary. Revokes the tax-exemption of such organizations for acts of self-dealing. Prohibits the net earnings of certain civic leagues and local associations from inuring to private shareholders or individuals. Increases the penalty on tax-exempt organizations for failure to file timely annual information returns. Increases the penalty for failure to permit public inspection of such returns. Directs the Secretary of the Treasury to establish a clearinghouse for public access to annual returns of exempt organizations.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 20 January 1995

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 20 January 1995

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 20 January 1995

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.