On April 23, 2026, the U.S. Department of the Treasury announced that the IRS plans to revise the Form 990 to improve transparency and provide clearer reporting on certain transactions of 501(c)(3) organizations, including government contracts, government grants, and fiscal sponsorship arrangements. In this alert, we provide a summary of the announcement, an estimate of how long any such changes may take, and our recommendations for next steps for exempt organizations given the increased scrutiny these organizations are already facing.
