“Issue 1” in yesterday’s EO Update stated that organizations should report their correct organization type. The IRS wishes to clarify that the intent of this tip was to remind filers to accurately and fully complete information about their public charity status on Schedule A. As indicated in the instructions to Schedule A, the public charity status an organization indicates on Schedule A can be the same as stated in the organization’s tax-exempt determination letter from the IRS (“exemption letter”) or subsequent IRS determination letter, or it can be different. SeeInstructions for Schedule A for more information.

Many tax-exempt organizations must file information returns by May 15

• Form 990-series returns are due on the 15th day of the fifth month after an organization’s tax year ends
• For an extension of time to file, use Form 8868, Application for Automatic Extension of Time to File an Exempt Organization Return
• What happens if my Form 990 is missing information or a schedule, or is the wrong return?
• To avoid errors, file electronically using one of the eFile business providers

Online training for small and mid-size 501(c)(3) organizations

• The Small to Mid-Size Tax Exempt Organization Workshopis a great resource for charities at StayExempt.irs.gov. 

IRS Nationwide Tax Forums offer:

• Continuing education via educational seminars
• Case Resolution Program
• Opportunities to talk with IRS subject
  

The Legal Business Awards recently honored Bryan Cave Leighton Paisner LLP with its “Private Client Team of the Year” award for 2019.  The event took place at the Grosvenor House in London on March 28, 2019.

BCLP received the award based on a combination of factors, including:

• the merger of its legacy Berwin Leighton Paisner / Bryan Cave teams into a global private client practice
• the firm’s Middle East work, including the Shari’a advice, and UAE / ADGM work
• its ability to work with clients across the world, with a focus Europe, USA, Middle East, and Asia
• the range of work the firm can cover, from high net worth individuals, to wealth management institutions and family offices
• its Family Asset Protection and divorce practice
• its BCLP Residential practice
• its advice on the treatment of complex Liechtenstein foundations by HMRC
• the firm’s wider Private Wealth offering

The IRS announced on March 27, 2019 that in an effort to enhance security and improve transparency, the “responsible party” on applications for an employer identification number (EIN) must now be a natural person.

An EIN is the tax identification number assigned to entities such as trusts, estates, retirement plans, LLCs, partnerships, and corporations.  An entity obtains such a number by completing the IRS Form SS-4 or an online application.  One question in the application process asks the applicant to identify the “responsible party,” which the IRS defines as “the person who ultimately owns or controls the entity or who exercises ultimate effective control over the entity.” In deciding who to list as the responsible party, the IRS encourages applicants to consider whether the party has “a level of control over, or entitlement to, the funds or assets in the entity that, as a practical matter, enables the person, directly

As of January 1, 2019, the IRS stopped mailing lists of parent and subsidiary accounts to central organizations (group ruling holders) for verification and return. Central organizations with accounting periods ending June 30, 2019, must submit updates by April 1, 2019. See Group Exemption Rulings and Group Returns for details.

The IRS Tax Exempt & Government Entities Division (TE/GE) has a wide range of job opportunities available. Apply today to become part of our team and help us oversee a vital part of the nation’s tax system.

1. Are you a recent graduate with qualifying accounting credits? Apply today to become a Revenue Agent through our Pathways Recent Graduates program. In this job, you’ll help taxpayers understand and comply with their tax obligations and apply tax laws with integrity and fairness.

IRS Pathways Recent Graduate Program (Internal Revenue Agent)

Multiple Locations

Starting at $33,394 (GS 05-09)

This job is open 02/25/2019 to 03/15/2019

2. Apply today to become a Tax Compliance Officer. As a TCO, you’ll plan, coordinate and conduct independent Correspondence Examinations and related investigations of individual and/or business taxpayers. You’ll also provide tax law and tax-related accounting assistance to taxpayers.

Tax Specialist (Tax Compliance Officer-TCO) **12