Finance

The US Treasury Department Goes After Dark Money

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On 23 April, the U.S. Treasury Department announced that the IRS plans to revise Form 990 — the annual information return filed by tax-exempt organizations — to improve transparency and strengthen oversight, specifically targeting reporting on government contracts, government grants, and fiscal sponsorship arrangements. The stated goals are to detect misconduct and hold wrongdoers accountable.

Treasury Secretary Scott Bessent framed it bluntly: “We are ending the days of hiding fraud, abuse, and extremist activity behind complicated nonprofit arrangements. When bad actors misuse charitable structures, directors and officers should understand that transparency can lead to scrutiny, accountability, and liability under the law.”

NEW: Citadel fires back after Mamdani singles out CEO

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Rep. Beth Van Duyne, R-Texas, suggests that business leaders should invest in states where they are appreciated on ‘The Evening Edit.’

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