The TE/GE operating division of the IRS earlier this month released its Fiscal Year 2022 program letter, which outlines priorities…
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IRS Developments
IRS Posts Procedure for Reporting Tax-Exempt Organization Concerns
The IRS has posted on its website the procedure for submitting complaints about a tax-exempt organization that may not be…
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New IRS Compliance Initiative Targets Exempts’ Worker Classifications
The IRS announced last week that the Tax Exempt and Governmental Entities Division will be targeting inappropriate worker classifications in…
READ MORE IRS Provides Interim Guidance for 501(c)(4) Notice Requirement
The IRS has provided interim guidance on potential penalties for 501(c)(4) organizations that fail to timely file Form 8976, which…
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Qualified Disaster Relief Contributions Deadline Nears
The IRS reminded corporate taxpayers this week that a February 25, 2021 deadline is approaching for taking a deduction for…
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Final Executive Comp Regulations Provide Helpful Exceptions for Related Organizations
The IRS has finalized regulations under Section 4960 of the Internal Revenue Code, which impose an excise tax on applicable…
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Update on Mandatory E-Filing for Exempt Organizations
The Taxpayer First Act of 2019 amended Section 6033(n) to require most exempt organizations to e-file their returns and related…
READ MORE IRS Releases Priority Guidance Plan
The IRS recently released its Priority Guidance Plan for the 2020-2021 fiscal year, which ends June 30, 2021. The list…
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990, 990-PF E-filing Requirement Coming Into Play
The IRS will be sending notices to exempt organizations that have filed paper returns to remind them that they will…
READ MORE IRS Provides More Guidance on UBTI and Net Operating Losses
The IRS has expanded its guidance on exempt organizations’ calculation of unrelated business taxable income (UBTI), and the ability to…
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