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April 23, 2015

Clinton Groups to Refile Tax Returns to Fix Reporting Errors

The Clinton Foundation and a subsidiary charity will revise at least five recent tax returns to correct errors in the their reporting of contributions from governments, Reuters writes. The errors included underreporting or overreporting by millions of dollars gifts from governments abroad and failing to break out donations from governments when reporting revenue on Forms 990, which are filed annually by nonprofits to the Internal Revenue Service.

The Clinton Foundation will submit revised 990s for 2010, '11, and '12, years in which it disclosed donations from the U.S. and foreign governments on its website but did not identify them on its tax returns. The foundation-affiliated Clinton Health Access Initiative will refile for 2012 and '13 after initially failing to isolate government grants in its returns for those years. The foundation said it might audit returns going back 15 years to determine if errors were made in other tax returns.