Wednesday, July 27, 2011

NPTtv Summary: Grassley's At It Again

Note: This is a summary from a story from the newest episode of The NonProfit Times TV.

A familiar senator to nonprofits is back to his old tricks.

Senator Charles Grassley (R-IA) introduced legislation that will go after charities that put money in off-shore accounts to avoid paying income taxes.  The senator, who has put nonprofits under federal scrutiny for the past several years, wants to block such organizations from getting federal grants from a program that helps prisoners re-enter society. 

This move comes a year after a committee hearing showed that the Boys & Girls Clubs held more than $50,000,000 off-shores in the Camen Islands, British Virgin Islands, and Bermuda.

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