IRS Issues 2017 Work Plan for Tax Exempt Organizations
Nonprofit organizations and their finances are currently under heightened scrutiny, with controversies garnering attention from the media and donors alike. Proactively addressing potential compliance issues now, before the IRS identifies them, can minimize complications, costs and reputational risks in the long run.
Update: IRS receives ACT Report; recommendations affect exempt organizations
IRS today receives report from the Advisory Committee of Tax Exempt and Government Entities (ACT). Committee member and Raleigh attorney Marty Martin presented recommendations from the Exempt Organizations group, which could affect about 1.5 million nonprofits nationally.
Some nonprofits concerned that IRS scandal will stain their good work
Following Tuesday’s release of the Treasury Inspector General for Tax Administration’s harsh audit, some nonprofits are concerned that IRS mismanagement of certain 501(c)(4) tax exempt social welfare organizations will negatively impact perceptions of their 501(c)(3) charitable operations.
IRS scrutiny of nonprofit political groups to be addressed by newly named leaders
Days before the scandal broke regarding scrutiny of tax exempt conservative political organizations, the IRS named Joseph H. Grant as Commissioner of the Tax Exempt and Government Entities Division and Sheldon Kay as Chief of Appeals.
IRS makes progress in creating Interactive Form 1023
IRS goal of making Form 1023 interactive to increase accuracy and transparency – as well as make it easier for tax-exempt filers – is finally moving forward. The Exempt Organizations Division director credits fast-changing technology environment that is making once impossible tasks “very doable today.”
Compensation and funding challenges ahead? IRS report notes ‘significant compliance issues’ among colleges, universities
IRS’s long-awaited final report on the College and Universities Compliance Project is announced at the 30th annual Georgetown Law School Continuing Legal Education Conference, "Representing and Managing Tax Exempt Organizations." The report identifies “significant compliance issues,” especially in regard to executive compensation, and is being viewed broadly as an indicator of potential issues across the tax-exempt sector.
IRS Offers Workshops to Help North Carolina Non-profits Stay Tax-Exempt
The Internal Revenue Service is offering workshops to educate tax-exempt organizations in North Carolina about meeting their tax obligations and maintaining their tax-exempt status.
6,000 Indiana nonprofits lose tax-exempt status
Nearly one in 10 registered nonprofits in Indiana lost their tax-exempt status in June because they failed to file newly-required paperwork with the Internal Revenue Service, a new analysis says.
IRS extends deadline for 10 counties
The IRS has extended until Nov. 26 the filing deadline for nonprofits in the 10 eastern North Carolina counties declared federal disaster areas in the wake of recent severe storms.
No more business as usual, IRS official says
While most nonprofits will survive the ravages of the recession, the tanking economy has underscored the need for nonprofits to rethink their priorities and strategies, says the chief of the IRS’ nonprofit division.