New IRS Gift Substantiation Guidelines Opposed by National Council of Nonprofits | Nonprofit Quarterly

New IRS Gift Substantiation Guidelines Opposed by National Council of Nonprofits | Nonprofit Quarterly: "A new voluntary gift substantiation regime proposed by the IRS is being opposed by the National Council of Nonprofits as well as a number of individual state associations of nonprofits.

The system would provide an alternative to the “contemporaneous written acknowledgements” now in use by providing 501(c)(3) nonprofits with the option to report gifts over $250 to the IRS by the donor’s social security number. Though it is not intended to be mandatory, it is seen as being confusing, unnecessary, and potentially injurious to giving. NCN’s statement reads:"



'via Blog this'

Charitable Standard Mileage Rate

Part III - Administrative, Procedural, and Miscellaneous - n-13-80.pdf: The standard mileage rate is 14 cents per mile for use of an automobile in rendering gratuitous services to a charitable organization under � 170. See section 5 of Rev. Proc. 2010-51.

IRS Asked Inappropriate Questions Of Nonprofit Applicants | The NonProfit Times

IRS Asked Inappropriate Questions Of Nonprofit Applicants | The NonProfit Times: Fallout from the way the Internal Revenue Service (IRS) singled out certain groups applying for 501(c)(4) status under the federal tax code prompted a spirited exchange when Cleta Mitchell, a lawyer and conservative activist, went head to head with John Pomeranz, a lawyer advocating for more bright lines in how the IRS makes its determinations, and Marcus Owens, a former director of the IRS Exempt Organizations Division, a unit that Mitchell would like to see abolished. “Just rip it out,” she said.

IRS makes progress in creating Interactive Form 1023 | Philanthropy Journal

IRS makes progress in creating Interactive Form 1023 | Philanthropy Journal: At a recent Georgetown Law School's conference on nonprofit organizations, EO Director Lois Lerner stated that an interim Interactive Form 1023 will be made available later in FY2013. She credited a fast-changing technology environment that is making once impossible tasks "very doable today."

Improvements to the current Form 1023 will permit applicants to access IRS educational resources through the interactive pop-up links embedded in the form. Improved quality and consistency of exemption applications is anticipated to result in increased efficiency of IRS review.

EO Update March 4, 2013

EO Update March 4, 2013: 3. 2012 Form 990 and 990-EZ – Significant changes

This chart summarizes significant changes to the Form 990, Form 990-EZ, schedules and instructions for tax year 2012.

SOI Tax Stats - Fall Bulletin 2012

SOI Tax Stats - Fall Bulletin 2012: SOI Tax Stats - Fall Bulletin 2012

The IRS And Permissible Activity - TheNonProfitTimes

The IRS And Permissible Activity - TheNonProfitTimes: The presidential election is just a couple of weeks away and people sometimes get desperate as the days get closer. Federal tax law strictly prohibits 501(c)(3) organizations from engaging in activities to support or oppose candidates for public office.

However, there are still a number of ways that 501(c)(3)s can be involved in the political process without running afoul of the law.

Unfortunately, the line between prohibited and permissible activities is murky and can be easily crossed if proper managers of the 501(c)(3) are not careful in how they plan and execute the activities. Now might be a good time to review the rules that will help you stay on the right side of the line while involved in the process.

IRS Remains On Hunt For Revocations - TheNonProfitTimes

IRS Remains On Hunt For Revocations - TheNonProfitTimes: The Internal Revenue Service (IRS) revoked the tax-exempt status of almost 280,000 organizations last year but potentially missed more than 15,000 others, according to a report by the Treasury Inspector General for Tax Administration (TIGTA).

The IRS made extensive outreach efforts but almost 25,000 organizations did not receive reminders to file, according to the report. More than 9,580 of approximately 24,450 organizations that did not receive a delinquency notice also might have been excluded from the At-Risk Listing published in July 2010.

Exempt Organizations Educational Tools

Exempt Organizations Educational Tools: Articles:

From the IRS

Exempt Organizations Educational Tools

Exempt Organizations Educational Tools: Exempt Organizations Educational Tools

Organizations, practitioners and others can use these prepared educational materials in newsletters, websites, etc., to communicate the compliance requirements that apply to tax-exempt organizations.

Articles:

Articles:

Tax-Exempt Entities Must File with the IRS
Tax-Exempt Organizations Should Avoid Political Campaign Intervention
Employment Tax Issues Important to All Tax-Exempt Entities
Tax-Exempt Nonprofts Must Meet Inspection and Disclosure Requirements
Divulge All Suspected Tax Exempt Status Abuses to the IRS
Contact the IRS if Your Organization is Going Out of Business

New Publication on Tax on Unrelated Business Income of Exempt Organizations | Planned Giving Design Center

New Publication on Tax on Unrelated Business Income of Exempt Organizations | Planned Giving Design Center: The IRS has released Publication 598, Tax on Unrelated Business Income of Exempt Organizations, in which it describes which organizations are subject to the tax, return filing requirements, what an unrelated trade or business is, and how to calculate unrelated business taxable income.

The EO graduate student summer internship program

The EO graduate student summer internship program is an exciting opportunity to learn – on the inside – about the federal tax code and the projects and programs the IRS uses to promote education and enforce compliance among tax-exempt organizations nationwide.
eo_2012_summer_internship_factsheet.pdf (application/pdf Object)

IR-2011-120: Filing Deadline Extended to March 30 for Some Tax-Exempt Organizations

Filing Deadline Extended to March 30 for Some Tax-Exempt Organizations

WASHINGTON — Tax-exempt organizations with January and February filing due dates will have until March 30, 2012, to file their annual returns, the Internal Revenue Service announced today.

IR-2011-120: Filing Deadline Extended to March 30 for Some Tax-Exempt Organizations

IRS Announces 2010 Standard Mileage Rates

IRS Announces 2010 Standard Mileage Rates: "IRS Announces 2010 Standard Mileage Rates


IR-2009-111, Dec. 3, 2009

WASHINGTON — The Internal Revenue Service today issued the 2010 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Beginning on Jan. 1, 2010, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

* 50 cents per mile for business miles driven
* 16.5 cents per mile driven for medical or moving purposes
* 14 cents per mile driven in service of charitable organizations"

New Video Series Helps Exempt Organizations Understand Redesigned Form 990 Requirements | Planned Giving Design Center

New Video Series Helps Exempt Organizations Understand Redesigned Form 990 Requirements | Planned Giving Design Center: "To help illustrate key points and answer important questions about the new Form 990, the IRS’ Exempt Organizations Division developed “The New Form 990: Getting Started,” a case study about a hypothetical organization – Exempt Organization for Disaster Relief (EODR)."

IRS Issues Final and Temporary Regs Revising Actuarital Tables | Planned Giving Design Center

IRS Issues Final and Temporary Regs Revising Actuarital Tables | Planned Giving Design Center: "The IRS has issued final and temporary regulations relating to the use of actuarial tables in valuing annuities, interests for life or terms of years, and remainder or reversionary interests, and establishes transitional rules for their use. These regulations will affect the valuation of inter vivos and testamentary transfers of interests dependent on one or more measuring lives and are necessary because section 7520(c)(3) directs the Secretary to update the actuarial tables to reflect the most recent mortality experience available. The text of the temporary regulations also serves as the text of the proposed regulations set forth in T.D. 9"

IRS Releases Final Form 990 and Instructions - 30 Dec 2008

IRS Releases Final Form 990 and Instructions - 30 Dec 2008: "The Internal Revenue Service announced on December 24 that it has released the final versions of the 2008 Form 990, Return of Organization Exempt From Income Tax, Form 990-EZ, Short Form Return, schedules and instructions effective for 2008 tax year.

The new form consists of an 11-page, 11-part core form that is required to be completed by all organizations that file the Form 990, and Schedules to be completed by those organizations that satisfy the applicable requirements for each Schedule."

IRS Issues Fall 2008 Statistics Of Income Bulletin

IRS Issues Fall 2008 Statistics Of Income Bulletin: "#
Information returns filed by tax-exempt organizations: Nonprofit charitable organizations exempt from income tax filed more than 286,000 information returns for tax year 2005, an increase of 4 percent from tax year 2004. These organizations held more than $2.2 trillion in assets, an increase of 9 percent from the previous tax year. Information returns for tax year 2005 were filed with the IRS in calendar years 2006 and 2007.
#
U.S. personal wealth in 2004: In 2004, an estimated 2.7 million adults with gross assets of $1.5 million or more owned nearly $11.1 trillion in assets. With a combined net worth of more than $10.2 trillion, where net worth is defined as gross asset value less debts and mortgages, these top wealth holders made up only about 1.2 percent of the total U.S. adult population, although they held 20.3 percent of the total U.S. net worth in 2004."

IRS Releases Instructions for New Charity Tax Form - Philanthropy.com

IRS Releases Instructions for New Charity Tax Form - Philanthropy.com: "IRS Releases Instructions for New Charity Tax Form

By Ben Gose

The Internal Revenue Service released on Tuesday final instructions for the redesigned Form 990, completing the first major overhaul in a generation of the informational return that most charities must file with the federal government."

IRS Plans to Issue Details Today on New Charity Tax Form - Philanthropy.com

IRS Plans to Issue Details Today on New Charity Tax Form - Philanthropy.com: "August 19, 2008
IRS Plans to Issue Details Today on New Charity Tax Form

The Internal Revenue Service today is expected to release the final version of the instructions for the new Form 990 informational tax form. The form is the key document charities fill out to disclose information to the tax agency and the public."

IRS Releases Instructions for Charity Tax Form - Philanthropy.com

From the Chronicle of Philanthropy

IRS Releases Instructions for Charity Tax Form - Philanthropy.com: "IRS Releases Instructions for Charity Tax Form

By Peter Panepento

Washington

The Internal Revenue Service has posted the draft instructions for the new Form 990, the primary document that charities file each year with the government."