The streamlined application for tax-exempt status will ask organizations to describe their mission and activities for the first time.
Tax exempt organizations
The Tax Court rejects the taxpayer's argued profit motive and disallows losses related to nonmember services.
The goal of transparency is to establish and maintain the trust of the organization’s key stakeholders.
The IRS announces new Form 990-EZ with help icons to assist organizations with accurate filing.
Form 990, which is publicly available, provides an opportunity to attract donors and appeal to other stakeholders by compellingly describing an organization’s purpose and accomplishments.
Form 8976 notifying of intent to operate must be filed within 60 days of an organization's formation.
Social welfare benefit organizations are now required to notify the Internal Revenue Service of their formation and intent to operate under Sec. 501(c)(4).
After receiving tens of thousands of negative comment letters, the Service makes an about-face.
A federal appeals court ordered the IRS to comply with a lower court’s order that it hand over the names of organizations that had been on its “Be on the lookout” list when it was mishandling applications for tax-exempt status.
Many charitable organizations will not accept a gift of an LLC or limited partnership units because the entity’s business is not part of their charitable mission.
A year after introducing a streamlined application process for tax-exempt organizations, the IRS reports on customer satisfaction and what worked and what didn’t.
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.
The IRS announced that it is withdrawing proposed regulations released last September that would have allowed charities to file information returns with the IRS and donors instead of providing contemporaneous written acknowledgments of charitable donations.
The Service issues prop. regs. and will develop a new information return.
Charities will be allowed to file information returns instead of providing contemporaneous written acknowledgment of charitable donations under proposed regulations issued by the IRS.
Two years after finding the IRS used inappropriate criteria when reviewing applications for tax-exempt status under Sec. 501(c)(4) and delayed the processing of some applications, the TIGTA issued a follow-up report to check on the IRS’s progress in eliminating the controversial practices.
Group’s leaders did not claim the income exemption. Finding the plaintiffs lacked standing, the Seventh Circuit vacated a district court’s holding that the Sec. 107(2) “parsonage” rental allowance income exclusion for ministers violates the Constitution and remanded the case with instructions to dismiss it for lack of jurisdiction. Facts: Freedom
It is not unusual for a tax adviser to suggest that a client involved in estate tax planning leave some assets to a charity.
Several types of relief may be available to not-for-profit organizations that incur penalties for violating complex filing requirements.
The IRS clarifies that shares held through a variety of tax-exempt organizations, plans, and accounts are generally excluded. On April 14, Treasury and the IRS announced they will amend the regulations under Sec. 1291 to provide that a U.S. person who indirectly owns stock of a passive foreign investment company