Alexander Reid Comments on Potential for More IRS Audits of Nonprofits

News / January 4, 2022

Partner Alexander Reid is quoted in an article that was published on Jan. 4, 2022, by Tax Notes. In the article “A Look Ahead: EOs Set Priorities for 2022,” Reid said the proposed Build Back Better Act includes a 15 percent global corporate minimum tax on book income in the legislation, moderate Democrats “have evidently lost their appetite for increasing corporate tax rates.” He noted that constrains options for revenue raisers. “Nonprofits have enjoyed historically low audit rates from IRS Exam, but that may well change” if the Build Back Better Act becomes law, Reid said.

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