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Abstract: 

For a change, the big news from Washington for charities is not the long-watched Charitable IRA provision and related items from last year's unsuccessful CARE Bill, but rather a dramatic Congressional investigation of nonprofit organizations. The events in this drama to date include a long series of staff inquiries, investigative hearings, and a number of legislative proposals that would literally change the way foundations and other entities do business. So far, the action has been limited to the Senate Finance Committee, but eventual action by the full Congress seems likely. What follows is a summary of the action so far.

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