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IRS Refuses to Make Commitment Requiring FCUs to File Tax Returns

from Credit Union Times

The IRS has refused to make a commitment to require federal credit unions to file informational tax returns, known as Form 990s. In a letter to Senate Finance Chairman Orrin Hatch, R-Utah, IRS Acting Director David Kautter simply thanks Hatch for his interest and states that he agrees that federal credit unions must promote their intended purpose and that the system needs more transparency. more

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