According to the Chronicle of Philanthropy (May 13, 2008), the IRS, in a recent private-letter ruling, denied a tax exemption to an organization for not spending enough of its money on charitable programs. Although the recipient’s identity was not released, the organization is believed to be the National Foundation...
IRS & FEDERAL TAX ISSUES
TE/GE Commissioner Speaks at Georgetown Law Center
This past April, Steven Miller, Commissioner of Tax Exempt and Government Entities (TE/GE) for the Internal Revenue Service spoke at Georgetown law school regarding nonprofit governance and management. Mr. Miller first addressed governance issues, which he believes cuts across virtually everything the IRS sees and does in its work....
Draft Instructions to 2008 Form 990 Released for Comment
The IRS released draft instructions to the 2008 Form 990 on April 7, 2008 and is seeking public comments on the draft. The instructions are for the redesigned Form 990 that organizations will file for their 2008 tax year (returns filed in 2009), which was released in final form...
Final 501(c)(3) and 4958 Regulations Released – Part II
The IRS released final regulations that clarify (i) the substantive requirements for tax exemption under section 501(c)(3) of the Internal Revenue Code; and (ii) the relationship between the substantive requirements for tax exemption under section 501(c)(3) and the imposition of section 4958 excise taxes on excess benefit transactions. The...
Final 501(c)(3) and 4958 Regulations Released – Part I
The IRS released final regulations that clarify (i) the substantive requirements for tax exemption under section 501(c)(3) of the Internal Revenue Code; and (ii) the relationship between the substantive requirements for tax exemption under section 501(c)(3) and the imposition of section 4958 excise taxes on excess benefit transactions. The...
IRS e-Postcard (Form 990-N) Disclosure Site
The IRS has a new page on its website allowing for visitors to conduct an e-Postcard search. Click here for the search page. Small tax-exempt organizations whose gross receipts are normally $25,000 or less may be required to electronically submit the e-Postcard, also known as Form 990-N. An IRS...
Form 990-N (ePostcard) Up and Running
Charities that qualify may now file Form 990-N (also known as the ePostcard) online for tax years ending on or after December 31, 2007. The due date for 2007 calendar year filers is May 15, 2008. Click here to file Form 990-N online. This site is hosted by the...
IRS Exempt Organizations Division 2008 Plans
I. Enhancing Enforcement of the Tax Law A. New Compliance Tools National Research Program EO Research and Compliance Initiative (Colleges and Universities) Voluntary Compliance Program B. Donor Control and Non-cash Contributions Section 509(a)(3) Supporting Organizations Charitable Trusts Deconstruction Conservation Easements Successor Member Interests C. Form 990 Redesign D. Other...
IRS Exempt Organizations Division 2007 Accomplishments
I. Enhancing Enforcement of the Tax Law A. Implementation of the Pension Protection Act of 2006 Announcement 2006-93: procedures by which 509(a)(3) organizations may request a change in their public charity status to 509(a)(1) or 509(a)(2). Notice 2006-109: discusses new provisions affecting supporting organizations (SOs), donor-advised funds, and private...
IRS Releases 2008 Form 990 (Final Redesigned Version) – December 20
On December 20, 2007, the IRS released the 2008 Form 990, the annual information return for public charities and certain other tax-exempt organizations. The final version, like the discussion draft released for comment in June, contains a core form and multiple schedules. However, several changes were made in response...