Feb
27
2017

EO Update: e-News for Charities & Nonprofits

Two new Issue Podcasts available for viewing
Go to the Stay Exempt Issue Podcast page on irs.gov to see Issue Podcasts on:

  • When are Commercial-Type Activities a Substantial Nonexempt Purpose for an IRC 501(c)(3) Organization?
    Learn about determining when commercial-type activities further a substantial nonexempt purpose for an IRC 501(c)(3) organization
  • IRC 501(c)(3) Proposing Denial
    Learn about the five-step roadmap the IRS uses to determine whether proposing denial is appropriate for an organization requesting recognition of tax exemption under IRC 501(c)(3)

What is an Issue Podcast?

An Issue Podcast is a resource the IRS uses for sharing technical knowledge.

An Issue Podcast is a short (approximately 15 minute), on-demand audio and visual presentation that includes:

  • A brief summary and analysis of an issue
  • References to key resource materials
Written by in: General
Feb
22
2017

EO Update: e-News for Charities & Nonprofits

IRS makes approved Form 1023-EZ data available online

The IRS announced today that publicly available information from approved applications for tax-exemption using Form 1023-EZ, Streamlined Application for Recognition of Exemption, is now available electronically for the first time.

Read news release.

Resources for 403(b) retirement plans

Review the following information.

IRS summarizes “Dirty Dozen” list of tax scams for 2017

The IRS recently announced the conclusion of its annual “Dirty Dozen” list of tax scams. The annual list highlights various schemes that taxpayers may encounter throughout the year, many of which peak during tax-filing season. Taxpayers need to guard against ploys to steal their personal information, scam them out of money or talk them into engaging in questionable behavior with their taxes.

Read news release.

Written by in: General
Feb
03
2017

Dangerous W-2 Phishing Scam Evolving; Targeting Schools, Restaurants, Hospitals, Tribal Groups and Others

WASHINGTON – The Internal Revenue Service, state tax agencies and the tax industry issued an urgent alert today to all employers that the Form W-2 email phishing scam has evolved beyond the corporate world and is spreading to other sectors, including school districts, tribal organizations and nonprofits.

In a related development, the W-2 scammers are coupling their efforts to steal employee W-2 information with an older scheme on wire transfers that is victimizing some organizations twice. “This is one of the most dangerous email phishing scams we’ve seen in a long time. It can result in the large-scale theft of sensitive data that criminals can use to commit various crimes, including filing fraudulent tax returns. We need everyone’s help to turn the tide against this scheme,’’ said IRS Commissioner John Koskinen.

When employers report W-2 thefts immediately to the IRS, the agency can take steps to help protect employees from tax-related identity theft. The IRS, state tax agencies and the tax industry, working together as the Security Summit, have enacted numerous safeguards in 2016 and 2017 to identify fraudulent returns filed through scams like this. As the Summit partners make progress, cybercriminals need more data to mimic real tax returns.

Here’s how the scam works: Cybercriminals use various spoofing techniques to disguise an email to make it appear as if it is from an organization executive. The email is sent to an employee in the payroll or human resources departments, requesting a list of all employees and their Forms W-2. This scam is sometimes referred to as business email compromise (BEC) or business email spoofing (BES).

The Security Summit partners urge all employers to be vigilant. The W-2 scam, which first appeared last year, is circulating earlier in the tax season and to a broader cross-section of organizations, including school districts, tribal casinos, chain restaurants, temporary staffing agencies, healthcare and shipping and freight. Those businesses that received the scam email last year also are reportedly receiving it again this year.

Security Summit partners warned of this scam’s reappearance last week but have seen an upswing in reports in recent days.  (more…)

Written by in: General
Jan
05
2017

Bryan Cave’s Private Client Services Group Welcomes David Adler

Bryan Cave’s Private Client Services Group welcomes a new partner in our London office:

David Adler has joined us in the London office, and will be a member of the Private Client Group. David is a U.S. tax lawyer who advises international entities, individuals and intermediaries on planning that has a U.S. component. Along with core U.S. federal income, estate and gift tax advice, he provides a U.S. perspective on issues of wealth preservation and transfer, as well as on corporate governance and family succession for privately held businesses. He is also a highly experienced adviser on issues arising under the U.S. Foreign Account Tax Compliance Act (FATCA) and the OECD Common Reporting Standard. David is joining us from the London office of another large firm.

Written by in: General
Jan
03
2017

EO Update: e-News for Charities & Nonprofits

1.  Form 990-N e-Postcard page unavailable 12/26/16 to 1/6/17

The Annual Electronic Filing Requirement for Small Exempt Organizations — Form 990-N (e-Postcard) page will be down from December 26, 2016 at 11:59 a.m. until January 6, 2017 at 1:00 p.m. EST due to an annual planned maintenance. We apologize for this inconvenience.

2.  Tax Preparedness Series: Remember donations may cut tax bills

As tax filing season approaches, the IRS reminds taxpayers who give money or goods to a charity by December 31, 2016 that they may be able to claim a deduction on their 2016 federal income tax return and reduce their taxes.

3.  Helpful tax tips

Review these helpful tax tips.

Written by in: General
Aug
26
2016

Tax Exempt Government Entities

The IRS is seeking applicants for vacancies on the Advisory Committee on Tax Exempt and Government Entities (ACT). The committee provides advice and public input on the various areas of tax administration served by the Tax Exempt and Government Entities Division (TE/GE). Applications will be accepted through Sept. 26.

Written by in: General
Aug
09
2016

EO Update: e-News for Charities & Nonprofits

Watch this free webinar about the IRS Tax Calendar for Businesses and Self-Employed

When: August 24, 2016; 2 p.m. (EDT)

How: Register for this event. You will use the same link to attend the event.

Learn about tracking federal tax due dates on your computer or mobile device 

  • The online Tax Calendar
  • The Desktop Calendar Tool (IRS CalendarConnector)
  • The Mobile Calendar Tool (IRS CalendarConnector)
  • How to Subscribe/Download into Your Calendar
  • How to Obtain Calendar Reminders (RSS Feeds)

Please note that we won’t be offering Continuing Education Credit for this event.

Resource:

IRS Tax Calendar for Businesses and Self-Employed

View due dates and actions for each month. You can see all events or filter them by monthly depositor, semiweekly depositor, excise, or general event types. Visit this page on your Smartphone or tablet, so you can view the Online Calendar on your mobile device.

Written by in: General
Jul
11
2016

EO Update: e-News for Charities & Nonprofits

  1. New requirement for organizations intending to operate under Section 501(c)(4): Submit Form 8976
    New legislation enacted at the end of 2015 added section 506 to the Internal Revenue Code. Section 506 requires an organization to notify the IRS of its intent to operate as a section 501(c)(4) organization. The IRS has developed a new form – Form 8976 – that organizations should use to provide this notification. The Form 8976 may only be submitted electronically. The Form 8976 – Electronic Registration System allows organizations to complete the notification process, keeps account information current and enables organizations to receive secure, digital communications from the IRS. A user fee of $50 must be submitted to Pay.gov to complete your organization’s notification. You do not need special software to submit a notification. Learn more.
  2. User fee decreased for Form 1023-EZ
    On July 1 the user fee to process the Form 1023-EZ, Streamlined Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code, was decreased from $400 to $275 (see Rev. Proc. 2016-32). You must submit the fee through www.pay.gov when you file a 1023-EZ application. You can pay the fee directly from your bank account or by credit/debit card.
  3. EP and EO participating in 2016 IRS Nationwide Tax Forums
    Employee Plans and Exempt Organizations will participate in the 2016 IRS Nationwide Tax Forums in five cities starting in July. The forums offer three days of seminars and workshops featuring speakers from both the IRS and tax practitioner organizations. In addition to getting the latest tax information, tax professionals can earn continuing education credits for their attendance.

    Read article.

Written by in: General
May
17
2016

EO Update: e-News for Charities & Nonprofits

Some Form 990-N Electronic Filing System (e-Postcard) users may see error messages

The Form 990-N online filing system moved from Urban Institute to IRS.gov in February. While the new system has been successful, a very small percentage of users see site errors while registering or submitting the form. The IRS offers this advice:

  • Review the steps listed on How to File Form 990-N. Pay particular attention to the “text character” restrictions.
  • The Form 990-N (e-Postcard) User Guide will explain each step in the filing process.
  • If site errors are unresolved, call TE/GE Customer Account Services at 877-829-5500. A representative will gather your Form 990-N information for filing on your organization’s behalf.
  • Organizations will not be penalized for filing late if it was caused by website issues. Organizations should continue efforts to file, even if they are late.

For more on filing Form 990-N, see the Form 990-N page on IRS.gov. 


Don’t forget to register for the free webcast about Accumulated Sick and Vacation Pay Deferred to 403(b) or 457(b) Plans

When: June 2, 2016; 2 p.m. (Eastern)

How: Register for this event. You will use the same link to attend the event.

Learn about:

  • When is accumulated sick and vacation leave pay subject to Federal Employment Taxes
  • When can taxes be deferred and for how long?
  • What is an elective contribution?
Written by in: General
May
11
2016

EO Update: e-News for Charities & Nonprofits

  1. EP and EO participating in 2016 IRS Nationwide Tax Forums – Register Now
  2. Register for IRS May 12 webinar: Reporting Compensation on Form 990 and Form 990-EZ
  3. Register for IRS May 19 webinar: Understanding the Universal Availability Rules in a 403(b) Retirement Plan

1.  EP and EO participating in 2016 IRS Nationwide Tax Forums – Register Now

Employee Plans and Exempt Organizations will participate in the 2016 IRS Nationwide Tax Forums in five cities starting in July. The forums offer three days of seminars and workshops featuring speakers from both the IRS and tax practitioner organizations. In addition to getting the latest tax information, tax professionals can earn continuing education credits for their attendance.

Read article.


2.  Register for IRS May 12 webinar: Reporting Compensation on Form 990 and Form 990-EZ

1 p.m., ET

Learn about:

  • How to report compensation
  • How to complete Form 990 and Form 990-EZ
  • What has to be reported
  • Other compensation
  • Exceptions
  • Highest compensated employees

Register for this webinar.


3.  Register for IRS May 19 webinar: Understanding the Universal Availability Rules in a 403(b) Retirement Plan

2 p.m. ET

Learn about:

  • Basic universal availability rules
  • Treatment of adjunct faculty at universities
  • Treatment of part-time, seasonal, and temporary employees
  • The 20 hours per week and the 1,000 hours rules
  • Controlled group situations and concerns
  • Mayo ruling on medical residents and its impact
  • The required notice to employees each year
  • Ways to find, fix, and avoid universal availability errors

Register for this event. You’ll use the same link to attend the event.

Written by in: General

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