IRS TE/GE FY 2020 Accomplishments Letter

The IRS Tax Exempt & Government Entities Division (TE/GE) recently published its FY 2020 Accomplishments Letter. One segment of customers covered by TE/GE is Exempt Organizations (EO), which includes charities, private foundations, business leagues, labor unions, and veterans’ organizations. The other two segments of customers are Employee Plans and...

New COVID-19 Relief Package

The Coronavirus Response and Relief Supplemental Appropriations Act of 2021 (the “2021 COVID Relief Act”) was signed into law on December 27, 2020. The 2021 COVID Relief Act is a $900 billion part of the $1.4 trillion omnibus spending and appropriations bill that is viewed as the sequel to...

Premature Revocation

The Internal Revenue Service (IRS) mistakenly revoked tax-exempt status from more than 30,000 organizations for failure to file three consecutive information returns. The error occurred because the IRS automated systems were not properly updated to account for the extension of information return filing dates due to the COVID-19 pandemic....