A new notice requirement recently enacted by Congress in the wake of the scandal regarding the IRS’s handling of Sec. 501(c)(4) applications will not be implemented immediately, the IRS announced.
Formation & Governance
The U.S. Tax Court recently issued an opinion focusing on the requirements for an organization to qualify for a tax exemption under Sec. 501(c)(3).
The types of tax professionals private foundations can rely on when making a good-faith determination that a foreign grantee is a public charity were expanded.
An IRS notice provides guidance on how tax-exempt hospitals may satisfy the requirement to report providers who provide medically necessary care covered by the financial assistance policy.
The IRS has expanded the list of tax professionals who can be relied on when making a good-faith determination of a foreign grantee’s eligibility.
A recent property tax case from the Tax Court of New Jersey should serve as a warning to tax-exempt medical centers and their tax advisers throughout the country.
Two years after finding the IRS used inappropriate criteria when reviewing applications for tax-exempt status under Sec. 501(c)(4) and delayed processing some applications—a report that led to congressional investigations and the resignation of IRS Exempt Organizations Director Lois Lerner—TIGTA issued a follow-up report to check on the IRS's progress in eliminating the controversial practices.
Private nonoperating foundations should employ tax planning techniques to lower the entity's excise tax rate from 2% to 1%. The potential tax savings that would result from proper tax planning would be better used to further the foundation's exempt purpose.
The IRS issued a streamlined application for recognition of tax-exempt status; however, an organization cannot use Form 1023-EZ if its assets exceed $250,000 or its annual gross receipts are more than $50,000.
The IRS introduced a streamlined application process for small organizations that want tax-exempt status.
The IRS introduced a streamlined application process for small organizations that want tax-exempt status under Sec. 501(c)(3).
Coordinating Charitable Trusts and Private Foundations for the Business Owner: Complying With UBIT and Self-Dealing Rules
This item details some charitable giving options for owners of closely held businesses, the applicable unrelated business income and self-dealing rules, and best practices for taxpayers who have these charitable desires and restrictions.
Organizations have new procedures for getting their exempt status reinstated.
Tax-exempt organizations that have had their tax-exempt status automatically revoked because they failed to file required annual returns for three consecutive years have new procedures for getting their exempt status reinstated.
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.
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.
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.
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.
This column assesses the advantages and disadvantages of using a private foundation to meet charitable goals.
Monday, May 17, is the deadline for calendar-year tax-exempt organizations to file their Forms 990 for 2009. It also marks the third filing deadline under the mandatory filing requirement instituted by the Pension Protection Act of 2006.