Apr
17
2014

IRS Exempt Organization Newsletter 2014-7

On March 20, the IRS released its Exempt Organization Newsletter, Issue Number 2014-6. Topics include the following:

  1. Register for the Form 990 Filing Tips webcast presentation
  2. IRS Commissioner speaks at National Press Club
  3. IRS issues guidance on treatment of unrelated business income of state chartered credit
  4. Don’t include Social Security numbers on publicly disclosed forms
  5. IRS phone forum Q&As/presentations posted
  6. Register for EO workshop

(more…)

Written by in: General
Mar
26
2014

IRS Exempt Organization Newsletter 2014-7

On March 26, the IRS released a special issue of its Exempt Organization Newsletter, Issue Number 2014-7.


  IRS phone forum scheduled March 27:
Veterans’ Organizations: Help from the IRS on Key Rules


This phone forum, which begins tomorrow at 2 p.m. EDT, will cover the following topics:

  • Exemption Requirements
  • Exempt Activities
  • Unrelated Business Income (including gaming)
  • Recordkeeping
  • Employment Issues
  • Group Rulings
  • Filing Requirements

Go here to register for this event.

More information: Publication 3386: Veterans’ Organizations Tax Guide

Written by in: General
Mar
21
2014

IRS Exempt Organization Newsletter 2014-6

On March 20, the IRS released its Exempt Organization Newsletter, Issue Number 2014-6. Topics include the following:

  1. IRS phone forum scheduled March 27:
    Veterans Organizations: Help from the IRS on Key Rules
  2. Changes made to EO Select Check
  3. Exempt Organizations Business Master File Extract page updated
  4. Register for EO workshop
  5. Revenue Procedure 2014-22 posted
  6. IRS phone forum Q&As/presentations posted (more…)
Written by in: General
Mar
13
2014

Sherby Elected President of ACTEC

Kathleen Sherby in our St. Louis office has been elected president of the American College of Trust and Estate Counsel(ACTEC), effective March 8. Kathy’s election as president is an honor that recognizes her reputation as one of the country’s preeminent estate planning attorneys. She most recently served as president-elect of the organization. The American College of Trust and Estate Counsel is a national organization of approximately 2,600 lawyers elected to membership by demonstrating the highest level of integrity, commitment to the profession, competence and experience as trust and estate counselors. Kathy is a partner in our Private Client Group and co-leader of the Fiduciary Litigation Team.

Written by in: General
Mar
04
2014

IRS Exempt Organization Newsletter 2014-5

On March 4, the IRS released its Exempt Organization Newsletter, Issue Number 2014-5. Topics include the following:

  1. What if the IRS needs more information on your application?
  2. Review Revenue Procedure 2014-19
  3. Register for EO workshops
  4. IRS offers Health Care Tax Tips to help individuals understand tax provisions in the Affordable Care Act
  5. IRS releases the “Dirty Dozen” Tax Scams for 2014
  6. Charities and Their Volunteers phone forum presentation posted
  7. Interactive Form 1023 updated (more…)
Written by in: General
Feb
05
2014

IRS Exempt Organization Newsletter 2014-4

On February 5, the IRS released its Exempt Organization Newsletter, Issue Number 2014-4. Topics include the following:

  1. Register for upcoming phone forum: Form 990-N and 990-EZ filing tips (Part 1 of the Form 990-Series)
  2. Register for EO workshops
  3. Cost of employer-sponsored health insurance may appear on Form W-2
  4. Want to file Forms 941 instead of Form 944?
  5. PTIN expiration letters sent (more…)
Written by in: General
Jan
31
2014

Barrie in Bloomberg BNA Publications

DC and New York Partner John Barrie was quoted Jan. 27 by Tax and Accounting Center and Jan. 24 by the Daily Tax Report, both Bloomberg BNA publications, concerning requirements for Section 501(c)(4) status. To qualify for this tax-exempt status, applicants must ensure that 51 percent of their activities and expenditures go toward social welfare causes, according to recently released training materials from the Internal Revenue Service. The IRS was embroiled in controversy in 2013 after it was revealed that the agency targeted conservative political groups for extra scrutiny as they applied for 501 (c)(4) tax exemption. As a result, the agency has been asked to clarify what “candidate-related political activity” such organizations can maintain. Barrie said one route to clarification would be new legislation. “I think this is one where Congress needs to step in and provide some guidance,” he said.

Written by in: General
Jan
24
2014

IRS Changes Procedures for EINs

Every nonprofit corporation and charitable trust must secure their own federal employer identification numbers (EIN). Effective Jan. 6, 2014, the IRS is no longer providing EINs by phone. Requests for EINs may still be made online, by fax and by mail. EINs requested online will be available immediately; those requested by fax will be available within four days; and those requested by mail will be available within 30 days.

However, the IRS will not process an EIN application online if the responsible party obtained its EIN online. That is to say, if a parent company’s EIN was obtained online, it is not possible to request an EIN online for any newly formed subsidiary of that parent. Those applications for EINs must be faxed or mailed, resulting in longer wait times for the EIN.

Parties applying for EINs should plan in advance now that EINs won’t be available immediately for some applications.

Written by in: General
Jan
22
2014

Announcing the Launch of CreditBryanCave.com

We are pleased to announce the launch of CreditBryanCave.com, a blog written by professionals who specialize in tax credit transactions. These transactions often include the participation of nonprofit organizations (as well as developers, lenders, syndicators, investors, and community development entities), raise issues impacting tax-exempt organizations, and include transactions involving low-income housing credits, rehabilitation credits, and new market tax credits. Members of our team often work closely with the Tax Credit Team. We encourage you to subscribe to our sister blog by clicking the link below.

CreditBryanCave.com

Written by in: General
Jan
22
2014

IRS Exempt Organization Newsletter 2014-2

On January 17, the IRS released its Exempt Organization Newsletter, Issue Number 2014-2. Topics include the following:

  1. Phone forum: Governance help for exempt organizations
  2. Current Form 990 series forms/instructions & significant changes
  3. EO’s free e-newsletter helps keep charities and nonprofits up to date
  4. IRS tax videos will help you file in 2014 (more…)
Written by in: General
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