WebCPA | New Tool for Private Foundations Available from IRS

WebCPA | Tools and Resources for the Electronic Accountant: "New Tool for Private Foundations Available from IRS

Washington (Oct. 18, 2005) - The Internal Revenue Service launched a new Web-based information tool that will help private foundations comply with federal tax rules and requirements that occur throughout the lifecycle of their organization.

The Life Cycle of a Private Foundation section of www.IRS.gov provides a snapshot of five stages, including starting the organization, applying for tax-exempt status, filing requirements, maintaining compliance and terminating the organization. The new tool is similar to the Life Cycle of a Public Charity that has proved popular since being introduced in 2004."