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Wednesday, August 11, 2004

IRS to Scrutinize Exec Pay at Non-Profits

August 10, 2004
The U.S. Internal Revenue Service said Tuesday some 2,000 charities will be reviewed under a new IRS enforcement effort to see if they're overpaying their executives.

"We are concerned that some charities and private foundations are abusing their tax-exempt status by paying exorbitant compensation to their officers and others," said IRS Commissioner Mark Everson. ... FR Reprint.

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