On June 8, the IRS released its Exempt Organization Newsletter, Issue Number 2012-11. Topics include the following:
- New ACT members named; annual report issued
- News for credit unions on auto-revocation
- Churches and Religious Organizations webinar planned July 25
- Register to attend an IRS Nationwide Tax Forum this summer
- Register for an upcoming IRS workshop for charities
The IRS’s Advisory Committee on Tax Exempt and Government Entities (ACT) held a public meeting on June 6 and issued its annual report.
Seven newly-appointed members of the panel were introduced at the meeting. They will begin two-year terms and join 14 returning members.
The ACT includes external stakeholders and representatives who deal with employee retirement plans; tax-exempt organizations; tax-exempt bonds; and federal, state, local and Indian tribal governments. ACT members are appointed by the Secretary of the Treasury and generally serve two-year terms. They advise the IRS on operational policy and procedural improvements.
Federal and state credit unions differ in their IRS filing requirements. The difference can lead to unnecessary automatic revocation of tax exempt status for failure to file.
If you’re associated with a church or religious organization, you should consider registering for this webinar, which will be presented July 25 at 2 p.m. Eastern Time. It will cover many topics, including:
- How to apply for tax-exempt status
- The do’s and don’t of maintaining your tax-exempt status
- Special rules for compensation of ministers
- Recordkeeping and filing
- Rules limiting an IRS church audit
Employee Plans and Exempt Organizations will participate in the IRS Nationwide Tax Forums starting this June. The three-day forums are scheduled in six cities and will provide seminars, workshops, focus groups and an exhibit hall for tax professionals. More than 17,000 attended the three-day forums last year. In addition to getting the latest tax information, tax professionals can earn Continuing Professional Education credits.
EO’s seminar is titled, “Heads Up! Keeping Current on Exempt Organizations.”
Topics this year include basic information on how to apply for tax-exempt status, the benefits of the new SelectCheck search tool, two new tax credits worth knowing about and an update on education and outreach activities. EO also will repeat its popular workshop on the latest changes in Form 990 and tips on how to comply with the law.
EP will present two seminars. The first, “A Taxing Matter – Retirement,” will cover tax issues affecting retirement.
The second seminar, “A Crash Course in Retirement Plan Contributions in 3D,” will explain the mechanics of contributing to a SEP, SIMPLE IRA, 401(k) or one-participant retirement plan.
EP and EO also will host booths at the Tax Forum exhibit hall. Practitioners will have the opportunity to interact with IRS employees and review IRS tax products and services.
For additional information and to register, please visit the Tax Forums website. Also read the 10 things Enrolled Agents, Certified Public Accountants, Certified Financial Planners, Registered Tax Return Preparers and other tax professionals need to know about the Tax Forums.
Register now for our upcoming workshops for small and medium-sized (SMS) 501(c)(3) organizations in your area.
Each one-day workshop, presented by experienced Exempt Organizations specialists, will explain what 501(c)(3) organizations must do to keep their tax-exempt status and comply with tax obligations.
This popular introductory workshop is designed especially for administrators or volunteers who are responsible for an organization’s tax compliance as well as those interested in careers in the nonprofit sector.
Registration is now available for the following workshop locations:
- Milwaukee, WI (June 26) – hosted by the University of Wisconsin- Milwaukee-Helen Bader Institute for Nonprofit Management
- Eau Claire, WI (June 28) – hosted by the University of Wisconsin – Eau Claire
- Hamburg, NY (July 17) – hosted by Hilbert College – The Center for Adult and Graduate Studies
- Erie, PA (July 19) – hosted by Gannon University
- Arlington, VA (July 24) – hosted by George Mason University’s Centers on Public Service
- Fairfax, VA (July 25) – hosted by George Mason University’s Centers on Public Service
- Louisville, KY (Aug. 28) – hosted by the University of Kentucky College of Agriculture
- Lexington, KY (Aug. 30) – hosted hosted by the University of Kentucky College of Agriculture
- Albuquerque, NM (Sept. 28 & 29) – hosted by the University of New Mexico: UNM School of Law Clinical law Programs, UNM Division of Continuing Education, and the UNM School of Public Administration