The following items are among the priorities of the IRS Exempt Organizations division (EO) for FY 2007:
1. New Projects:
- implementing new legislation
- employment taxes
- telephone excise tax refund
- community foundations
- college and university unrelated business income tax (UBIT)
2. Form 990 redesign project. EO’s goal is to have a draft form and instructions available for comment in FY 2007.
3. EO will continue to work with Chief Counsel and Treasury to issue new guidance on certain topics, including:
- Guidance on political activities by section 501(c)(3) organizations.
- A revenue procedure on processing exemption applications that will replace Rev. Proc. 90-27.
- Final regulations under sections 501(c)(3) and 4958 on revocation standards (Proposed regs were published on September 9, 2005).
- Guidance on advance and definitive rulings for publicly supported organizations.
- Guidance under section 509(a)(3) regarding supporting organizations.
- Guidance under section 527(l) with respect to the reasonable cause standard for penalties imposed on political organizations for failing to comply with notice and reporting requirements.
- Regulations under section 529 regarding qualified tuition programs.
- Guidance on section 516 of the Tax Increase Prevention and Reconciliation Act of 2005 (TIPRA), regarding the involvement of accommodation parties in tax shelter transactions.
4. EO will continue to provide quality education and outreach programs, including:
- a new interactive web-based training program modeled on their Small and Mid-Size Exempt Organizations workshop
- information on new legislative changes
- phone forums on the hottest topics
- updates to the Charities and Non-profits page on irs.gov
5. EO will continue to use technology to improve its business processes, including:
- implementation of the TE/GE Determinations System (TEDS), which will replace and improve the current methods used for processing and tracking applications for tax-exempt status
- roll-out of the TE/GE Reporting and Electronic Examination System (TREES), an information system that will allow examination personnel to manage in-process inventory and track issues, examination results, and education and outreach activities
Click here for the FY 2007 EO Implementing Guidelines (released on November 7, 2006) for further details of EO priorities.