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IRS Exempt Organization Newsletter Special Issue

May 16, 2014


On May 16, the IRS released a special issue of its Exempt Organization Newsletter:

Thursday, May 22 – 11 a.m. Eastern Time

Topics include:

  • To file or not to file an application for recognition of exemption
  • Form 1024: Applying for exemption
  • Annual filing requirements for exempt organizations
  • Permitted 501(c)(6) purposes and activities

To receive CE credit (and a certificate of completion) you must view the presentation for a minimum of 50 minutes.

Register for this presentation.

A 200% Tax on Self-Dealing? And People Think the Estate Tax is High!

May 12, 2014


With research and drafting assistance provided by our extern from Washington University School of Law, Rachael Lynch.

Now that we’ve scared you with the potentially high taxes for self-dealing in private foundations, what is self dealing?

Self dealing includes any of the following transactions:

1. sale or exchange, or leasing, of property between a private foundation and a disqualified person (click here for a definition of a disqualified person); 2. lending of money or other extension of credit between a private foundation and a disqualified person; 3. furnishing of goods, services, or facilities between a private foundation and a disqualified person; 4. payment of compensation by a foundation to a disqualified person; 5. transfer of income or assets of a private foundation to a disqualified person; and 6. agreement by a private foundation to make any payment to a government official (other than an agreement to hire the official

IRS Exempt Organization Newsletter 2014-9

May 12, 2014


On May 9, the IRS released its Exempt Organization Newsletter, Issue Number 2014-9. Topics include the following:

  • Register for the IRC 501(c)(6) Organizations phone forum
  • IRS to Exempt Organizations as Filing Deadline Nears: Remember to File and Don’t Include SSNs on Form 990
  • Treasury and the IRS invite public comment on recommendations for 2014–2015 Priority Guidance Plan
  • EO Business Master File Web page link updated
  • Disaster Relief Resources for Charities and Contributors
  • Watch new small business health care tax credit YouTube video