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Nonprofits to face Sarbanes-like scrutiny from IRS

boston.bizjournals.com

Increasingly complex, pocked by controversy and marked by the perception of poor management, the nonprofit sector faces new oversight by the Internal Revenue Service with an overhauled 2008 tax filing that spotlights the management of tax-exempt organizations. This is the first significant change the IRS has made in nearly 30 years to the Form 990, the document that tax-exempt organizations from universities and hospitals to social service providers file annually with the agency and must share with the public upon request.

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