The Treasury Department is eliminating the requirement for many nonprofits to disclose their donors on their IRS Form 990 Schedule B. While this change will not remove this requirement for 501(c)(3) organizations, it will remove the Schedule B reporting requirement for other organizations such as 501(c)(4) social welfare organization, 501(c)(5) labor unions, and 501(c)(6) trade associations. This new guidance in Revenue Procedure 2018-30, will not take effect immediately, but will eliminate the Schedule B reporting requirement on organizations filing their IRS Form 990 for fiscal years ending on or after 12/31/2018.
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