CUNA Regulatory Comment Call


October 25, 1999

Treasury Study on Taxpayer Confidentiality

(NOT A MAJOR RULE)

The Department of the Treasury (Treasury) is soliciting comment on a study that is to be conducted regarding the scope and use of provisions regarding taxpayer confidentiality. A part of this study focuses on information disclosure by tax-exempt organizations. Comments are due to Treasury by November 15, 1999. Please submit your comments to CUNA by November 10. Please feel free to fax your responses to CUNA at 202-371-8240; e-mail them to Associate General Counsel Mary Dunn or Assistant General Counsel Jeffrey Bloch; or mail them to Mary or Jeff in c/o CUNA's Regulatory Advocacy Department, 805 15th Street, NW, Suite 300, Washington, DC 20005. Click here for a copy of the solicitation or contact Jeff if you would like a copy sent to you.

BRIEF BACKGROUND

Section 6103 of the Internal Revenue Code (Code) prohibits disclosure of tax returns or returns information, except as otherwise authorized by the Code. Permitted disclosures include:

Section 6104 of the Code permits the public to access information related to tax-exempt organizations. Such information includes the organization's application for tax exemption and the supporting documents, the Internal Revenue Service (IRS) determination letter, and the information returns filed under Section 6033. This information is available for public inspection at certain IRS offices and at the organization's principal office. Copies are also available upon request made to the organization or the IRS.

BRIEF DESCRIPTION OF THE SOLICITATION

Section 3802 of the IRS Restructuring and Reform Act of 1998 requires the Secretary of Treasury to study the scope and use of provisions regarding taxpayer confidentiality. The study will examine the following six topics:

Treasury is soliciting comments on the six topics described above and invites comments on the following questions:

QUESTIONS TO CONSIDER REGARDING TREASURY'S CONFIDENTIALITY STUDY

Leagues and credit unions should feel free to fax their responses to CUNA at 202-371-8240; e-mail them to Jeffrey Bloch at jbloch@cuna.com or mail them to CUNA's Regulatory Advocacy Department, Suite 300, 805 15th Street, NW, Washington, DC 20005. Thank you!!