Overview
Chairman Hatch Releases Findings on Tax-Exempt Private Museums: Today, Senate Finance Committee Chairman Orrin Hatch (R-UT) released a letter, dated May 17, which advised IRS Commissioner John Koskinen of Chairman Hatch’s recent findings on tax-exempt private museums. In response to media reports that claimed “some tax-exempt entities were operating museums that provided limited benefits to the public while enabling donors to reap substantial tax advantages,” Chairman Hatch sent letters to 11 private museums to gather more information on these claims. In his letter, Chairman Hatch concluded that “[d]espite the good work that is being done by many private museums, I remain concerned that this area of our tax code is ripe for exploitation.” Chairman Hatch asked Commissioner Koskinen to respond to his findings and “detail the IRS’s views on private museums and the agency’s efforts to ensure that private museums have sufficient guidance to conduct their operations.”