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:
For more on filing Form 990-N, see the
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.
2. Register for IRS May 12 webinar: Reporting Compensation on Form 990 and Form 990-EZ
1 p.m., ET
Register for IRS May 12 webinar: Reporting compensation on Form 990 or Form 990-EZ
Don’t miss this event!
May 12, 1-2 p.m., ET
Read IRS TE/GE “Issue Snapshots”
The IRS Tax Exempt and Government Entities (TE/GE) Knowledge Management team periodically issues research summaries called “Issue Snapshots” on tax-related issues for practitioners. They are posted on IRS.gov’s electronic reading room page under “Training and Reference Materials.” Bookmark and check the page often for helpful new materials.
Recent articles include:
The Department of the Treasury has released the Treasury Green Book for Fiscal Year 2017, which provides explanations of the President’s budget proposals. One such proposal (remember…these are just proposals, not actual changes in the law) that may affect your estate planning, if passed, is found on page 240 of the Green Book and is re-printed here for your convenience:
REFORM EXCISE TAX BASED ON INVESTMENT INCOME OF PRIVATE FOUNDATIONS
Private foundations that are exempt from Federal income tax generally are subject to a two percent excise tax on their net investment income. The excise tax rate is reduced to one percent in any year in which the foundation’s distributions for charitable purposes exceed the average level of the foundation’s charitable distributions over the five preceding taxable years (with certain adjustments). Private foundations that are not exempt from Federal income tax, including certain charitable trusts, must pay an excise tax equal
WASHINGTON – The Internal Revenue Service today issued an alert to payroll and human resources professionals to beware of an emerging phishing email scheme that purports to be from company executives and requests personal information on employees.
The IRS has learned this scheme – part of the surge in phishing emails seen this year – already has claimed several victims as payroll and human resources offices mistakenly email payroll data including Forms W-2 that contain Social Security numbers and other personally identifiable information to cybercriminals posing as company executives.
“This is a new twist on an old scheme using the cover of the tax season and W-2 filings to try tricking people into sharing personal data. Now the criminals are focusing their schemes on company payroll departments,” said IRS Commissioner John Koskinen. “If your CEO appears to be emailing you for a list of company employees, check it out before
Who Must Report?
If you are a health insurance issuer, self-insured employer, or other entity that providedminimum essential coverage (MEC) during calendar year 2015, including a state government providing Medicaid or Children’s Health Insurance Program (CHIP) coverage, you are subject to Affordable Care Act information reporting requirements.
What Must You Report?
You must report certain information to the IRS and to covered individuals about the coverage that you provided.
Which Forms Must You File?
Health insurance issuers, employers that are not applicable large employers and offer self-insured coverage, Medicaid and CHIP providers, and other MEC providers file Form 1094-B and Form 1095-B with the IRS and provide a copy of Form 1095-B to the covered individuals.
On February 2, the IRS released its Exempt Organization Newsletter, Issue Number 2016-1.
Register for this one-hour webinar, scheduled Thursday, Feb. 25 at 2 p.m. (Eastern).
Bryan Cave lawyers in Washington, London and Singapore assisted our Washington-based client, Futures Industry Association, in designing and implementing two simultaneous mergers with allied associations in Europe and Asia in order to form one association to represent the global derivatives industry. As these were non-profit, membership organizations, these transactions presented a number of complex transactional, tax, and international issues. Members of the association include major financial institutions active in commodities and futures markets.
To address these issues, Bryan Cave was able to utilize the expertise of attorneys in the three offices where the organizations are based, but also drew on expertise in the St. Louis, New York and Los Angeles offices. The client team was led by Chris Rodgers in Washington. Andrew Hart led the team in London. Attorneys contributing to this effort included Rod Page (DC); Sarah Buxton, Lorna Edwards, and Gary Freer (London); Nicole Simonian (LA), Keith Kehrer