The IRS announced its intention on Tuesday to amend the regulations governing social welfare organizations, a topic that has recently created an enormous amount of political controversy.
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Tax-Exempt Organizations
Practitioners Should Expect Tax-Exempt Processing Slowdown
CPAs need to be prepared for a slowdown in certain work handled by the IRS Exempt Organizations Division in the wake of the recent controversy involving the processing of certain applications for tax exemption under Sec. 501(c)(4), the division’s former head said June 20.
A Closer Look at the IRS’s Targeting of Tea Party and Other Groups for Review
In a report issued on May 14, TIGTA found that the IRS used inappropriate criteria to single out for review certain applications for tax-exempt status.
Interim IRS Chief Issues Initial Report on Sec. 501(c)(4) Controversy
Acting IRS commissioner Daniel Werfel issued a report on the plans to reform the IRS to avoid inappropriate targeting of taxpayers applying for Sec. 501(c)(4) social welfare organization status.
IRS Controversy Could Cause Tax-Exempt Processing Slowdown
Prepare for a slowdown in work handled by the IRS Exempt Organizations Division in the wake of the recent controversy involving the processing of certain applications for tax exemption, says the division’s former head.
State Taxation of Exempt Organizations’ Unrelated Business Income
How an exempt organization computes UBTI for state income tax purposes varies from state to state.
Acting IRS Commissioner Out in Tea Party Scandal
President Barack Obama announced the departure of Acting IRS Commissioner Steven Miller as a result of the ongoing scandal surrounding the IRS’s controversial methods for determining which organizations applying for Sec. 501(c)(4) status warrant further review.
IRS Makes Tax Exempt/Government Entities Fast Track Settlement Program Permanent
The IRS announced it is making the Tax Exempt and Government Entities Division Fast Track Settlement (TE/GE FTS) program permanent.
Prop. Regs. Expand Options for Private Foundations in Grant-Making Process
The IRS proposed expanding the types of tax professionals on which private foundations may rely when making good-faith determinations as to the public charity status of foreign grantees.
Contract With Related For-Profit Entity Disqualifies Exemption
The IRS ruled that an organization founded to facilitate charitable donations through a website and mobile phone application failed to establish that it operated exclusively for exempt purposes.
IRS Permits Charitable Contributions to Single-Member LLCs
The IRS explained that contributions to disregarded SMLLCs wholly owned and controlled by a U.S. charity will be treated as if made directly to the U.S. charity.
Notice Permits Charitable Contributions to Single-Member LLCs
The IRS explained that contributions to disregarded SMLLCs wholly owned and controlled by a U.S. charity will be treated as if made directly to the U.S charity.
Increased Focus on International Activities of Tax-Exempt Organizations
Many tax-exempt entities participate in the global economy by engaging in charitable or other exempt activities overseas and making foreign financial investments; These activities have drawn attention from the IRS as they examine the flow of tax-exempt funds around the world.
IRS Broadens Disclosures of Tax-Exemption Determinations
In response to the D.C. Circuit’s holding that the regulations the IRS had relied on to not disclose rulings denying or revoking organizations’ tax-exempt status violated the disclosure provisions of Sec. 6110, the IRS has issued final regulations amending the earlier regulations.
Exempt Organization Online Search Tool Introduced
The IRS announced that taxpayers can find information about tax-exempt organizations in a new online search tool called Exempt Organizations Select Check.
Allowable Political Activities and Reporting Requirements for Tax-Exempt Entities
This item provides basic guidance in the structure and operations of Sec. 527 organizations as well as some insight into allowable political activities for other tax-exempt organizations.
Some Tax-Exempt Organizations Are Receiving Erroneous Penalty Notices; Relief Available
Practitioners are reporting that some tax-exempt organizations have received penalty notices from the IRS for late filing of Forms 990, even though they received an automatic extension and filed during March, as instructed by the IRS.
New Online Search Tool Makes It Easier to Find Information About Exempt Organizations
The IRS announced that taxpayers can find information about tax-exempt organizations in a new online search tool called Exempt Organizations Select Check.
IRS Regulations Broaden Disclosures of Tax-Exemption Determinations
The IRS issued final regulations regarding disclosure of denials and revocations of tax-exempt status.
New Form 990 Has a Few Significant Changes for 2011
The IRS posted the final 2011 Form 990 and instructions on its website.
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