US Treasury and IRS are tightening oversight of non-profits through enhanced Form 990 reporting to expose hidden funding, improve transparency, and curb fraud and abuse in tax-exempt structures

The U.S. Treasury and IRS have announced a Form 990 transparency initiative to strengthen oversight of tax-exempt organisations by requiring more detailed disclosure of government grants, contracts, and fiscal sponsorship arrangements, with the aim of improving accountability, clarifying how public and donor funds are controlled and spent, and reducing risks of fraud, abuse, and hidden financial activity within nonprofit structures…