Tax Exempt Orgs


IRS Updates FAQ for Revocation of Tax-Exempt Status

On August 26, 2010, the IRS updated its frequently asked questions for automatic revocation of tax-exempt status for organizations that fail to file annual returns or notice.
1. What is automatic revocation?
Automatic revocation occurs when an exempt organization that is required to file an annual return (e.g., Form 990, 990-EZ, or 990-PF) or submit an annual [...]

IRS Announces One-Time Filing Relief for Small Exempt Organizations That Failed to File for Three Consecutive Years

Tax-exempt organizations that fail to satisfy annual filing requirements for three consecutive years automatically lose their tax-exempt status. The IRS is providing one-time relief that will allow small exempt organizations to come back into compliance and retain their tax-exempt status even though they failed to file for [...]

IRS’s Six Things To About TEO’s Tax Treatment

Every year, millions of taxpayers donate money to charitable organizations. The IRS has put together the following list of six things you should know about the tax treatment of tax-exempt organizations:

Annual returns are made available to the public;
Donor lists generally are not public information;
How to find tax-exempt organizations;
Which organizations may accept charitable contributions;
How to find tax-exempt organizations;
Which organizations may accept charitable contributions;
Requirements [...]

IRS Issues Guidance Regarding Reliance Criteria for Donor Advised Funds

The IRS has issued guidance that provides reliance criteria for private foundations and sponsoring organizations that maintain donor advised funds in determining whether a potential grantee is an organization described in section 509(a)(1), (2) or (3) of the Internal Revenue Code.
You can read all about here, in Rev. Proc. 2009-32; 2009-28 IRB 1.

Final 2008 Forms 990 and 990-EZ Available

The IRS has finalized the 2008 Form 990, Form 990-EZ, schedules, and instructions for filing in 2009. Also, the IRS has published materials that highlight significant changes to the Form and instructions. This information may help you, so click here to have a look.

IRS Streamlines Application Process for New Tax-Exempt Organizations

In September, 2008, the IRS and the Treasury Department issued new regulations that will streamline the approval process for organizations seeking tax-exempt status as publicly supported charities.
The new regulations do away with the so-called advance rulings that granted public charity status for an initial 5-year period but required exempt organizations to demonstrate, after the initial period, [...]

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