WASHINGTON—Lawmakers once again are taking a closer look at a variety of tax-exempt organizations. The House Ways and Means Oversight Subcommittee is holding a hearing today that will focus on tax-exempt charitable organizations. While credit unions are not expected to be a focus of this hearing, CUNA’s Dean Archer noted that any not-for-profit could come under scrutiny. Although Subcommittee Chairman Lewis has indicated the need to support efforts by these tax-exempt organizations to serve their communities, any such exploration into tax exemptions can make credit unions nervous, as some lawmakers have suggested that credit unions need to do a better job of serving underserved communities.
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