News & Analysis as of

IRS Draft of 2013 Form 990 and Instructions

Earlier this year the IRS issued drafts of the 2013 Form 990, Return of Organization Exempt From Income Tax, and 2013 Form 990 Instructions. Although there were no major changes to the Form 990, there were several changes and...more

Many Tax-Exempt Organizations Must File Form 990 by May 15 to Preserve Tax-Exempt Status

The Internal Revenue Service will automatically revoke an organization's tax-exempt status if the organization fails for three consecutive years to file an IRS Form 990. Organizations that use the calendar year for their...more

Compensation and Unrelated Business Income are Focus of IRS Colleges and Universities Report

Just a few weeks before many tax-exempt organizations file their annual Form 990, the IRS yesterday released its final report on the Colleges and Universities Compliance Project, which it had initiated in 2008 by sending...more

403(b) Plans – Correction Due To Loss Of Tax-Exempt Status

What happens if a tax-exempt organization becomes ineligible to sponsor a Section 403(b) Plan because it loses its exempt status under Internal Revenue Code Section 501(c)(3)? As an example, loss of tax-exempt status may...more

A Full Plate for the IRS: IRS Releases 2012 Exempt Organizations 2012 Annual Report and 2013 Workplan

At the end of January, 2013, the IRS Exempt Organizations Group (“EO”) released its annual report, highlighting EO’s 2012 accomplishments and outlining its priorities for 2013. This year’s report was significantly more...more

House Ways and Means Oversight Subcommittee Holds Second in a Series of Hearings on Issues Facing Tax-Exempt Organizations

On July 25, 2012, the Oversight Subcommittee of the House Committee on Ways and Means, led by Congressman Charles W. Boustany Jr., MD (R-LA), heard testimony from the IRS and experts in the tax exempt community on the growing...more

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