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EO Update: e-News for Charities & Nonprofits

June 16, 2021

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Update on Mandatory Electronic Filing for Form 4720 by Private Foundations

Section 3101 of the Taxpayer First Act requires certain exempt organizations to file information and tax returns electronically for tax years beginning after July 1, 2019. Private foundations required to file Form 4720, Return of Certain Excise Taxes Under Chapters 41 and 42 of the Internal Revenue Code, are included in the electronic filing mandate. Pending conversion of Form 4720 to electronic format, the IRS continued to accept the 2019 tax-year version of this return on paper. While software for the electronic version of Form 4720 has been under development, the IRS also continued to accept the 2020 tax-year version of Form 4720 from private foundations on paper. See Notice 2021-01, 2021-2 I.R.B. 315.

The 2020 Form 4720 and its instructions have been updated for e-filing. As of the beginning of June 2021, several providers have made software

Live IRS Webinars in June; Register now for the 2020 IRS Tax Forum; Join HR Zoom sessions for IRS job openings

June 7, 2021

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Live TE/GE Webinars in June

The IRS Tax Exempt & Government Entities would like to invite you to watch two live webinars we have scheduled this month.

1) Applying for Exemption

When: June 23, 2021, at 1:00 pm ET

Learn about:

    • Steps to take before applying to the IRS for tax-exempt status
    • Types of tax-exempt status available and forms used to request them
    • How to apply for tax-exempt status and tips to shorten the application process

Register: Register now for this free webinar

2) Reporting Election Workers Earnings

When: June 24, 2021, at 1:00 pm ET

Learn about:

    • Workers who should be treated as election workers
    • Taxes that should be withheld from election worker wages
    • Amounts to include in earnings

Register: