The following is a link to page that includes several good tax-exempt organization resources:
https://bestaccountingsoftware.com/tax-resources-charities-nonprofits/
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The following is a link to page that includes several good tax-exempt organization resources:
https://bestaccountingsoftware.com/tax-resources-charities-nonprofits/
Tax Exempt and Government Entities is pleased to release ourFiscal Year 2020 Accomplishments Letter (PDF). Highlights of our accomplishments during the last fiscal year include:
You can also review the TE/GE Fiscal Year 2021 Program Letter (PDF), which explains our priorities for the current fiscal year and the Compliance Program and Priorities webpage that provides information about additional compliance initiatives.
IRS webinar: File Error-Free Form 1023-EZ
The Tax Exempt and Government Entities Division invites you toregister for the free File Error-Free Form 1023-EZ webinar on Thursday, February 4, 2021; 1 p.m. Eastern Time.
This webinar is designed to help smaller organizations that are filing for tax exemption determine:
For further details, see Webinars for Tax Exempt & Government Entities.
IRS revises Form 1024-A, application for Section 501(c)(4) tax-exempt status as part of ongoing efforts to improve service
IRS news release: As part of ongoing efforts to improve service for the tax-exempt community, the Internal Revenue Service issued the revised Form 1024-A, Application for Recognition of Exemption Under Section 501(c)(4) and its instructions to allow electronic filing.
Mandatory E-filing
The Tax Exempt and Government Entities Division (TEGE) invites you to join us for a free Zoom awareness meeting on either January 12, 2021 or January 14, 2021.
This meeting is designed to help exempt organizations understand the new Form 1099-NEC (Non-Employee Compensation) reporting requirements for the 2020 filing season. Each session is limited to the first 950 participants.
Dates and Times:
Several dates and times offered to maximize the reach of the event.
Tuesday January 12th, 2021
9:00 a.m. Eastern – Meeting ID: 161 617 7980
2:00 p.m. Eastern – Meeting ID: 160 527 4160
Thursday January 14th, 2021
11:00 a.m. Eastern – Meeting ID: 160 684 3808
4:00 p.m. Eastern – Meeting ID: 161 660 1009
Participants may also join via voice call using the following information:
Dial by your location and input the meeting ID when prompted:
TE/GE has updated its Compliance Program and Prioritieswebpage. This page provides information about initiatives under each of our compliance program’s six components that work together to promote compliance by tax-exempt and government entities:
We’ll update this page at the beginning of each fiscal year quarter with information about new initiatives. Visit the page today to learn more about each of these six components and the initiatives supporting each component, including our new initiatives under:
Year-end reminder: Expanded tax benefits help individuals and businesses give to charity during 2020
The IRS today explained how expanded tax benefits can help both individuals and businesses give to charity before the end of this year.
The Coronavirus Aid, Relief and Economic Security (CARES) Act, enacted last spring, includes four temporary tax changes that are designed to help people and businesses who give to charity this year. Here is a rundown of these key changes.
Update on Mandatory E-Filing in 2021
The Taxpayer First Act, enacted July 1, 2019, requires tax-exempt organizations to electronically file information returns and related forms. The new law affects tax-exempt organizations in tax years beginning after July 1, 2019.
In 2020, the IRS continued to accept paper Form 990-T, Exempt Organization Business Income
Special Tax Deduction for Cash Donations to Charities in 2020
In the latest post on A Closer Look, Tax Exempt and Government Entities Commissioner Edward Killen reminds taxpayers there’s a special deduction for cash donations of up to $300 to a qualified charity in 2020. This $300 deduction is designed for taxpayers who take the standard deduction and aren’t normally able to deduct their donations.
Before making a donation, use the Tax Exempt Organization Search (TEOS) tool on IRS.gov/TEOS to make sure the charitable organization is eligible for tax-deductible donations.
The post also includes several other important reminders for taxpayers and charities, along with information and links to other temporary provisions of the relief provided in the CARES Act.
IRS Accepting Digital Signatures and Emailed Documents
The IRS issued a memorandum (PDF) that extends (through June 30, 2021) IRS employees’ ability to accept:
The Tax Exempt & Government Entities (TE/GE) FY 2021 Program Letter (PDF) lists our priorities for this new fiscal year. We’ll also use our new Compliance Program and Priorities webpage to provide information about additional priorities at the end of each quarter during the fiscal year.
Our FY 2021 compliance program and prioritiesalign with the IRS Strategic Goals:
We’ll release a summary of our FY 2020 accomplishments when all the data is available. You can also view our annual program (or work plan) and accomplishment letters for previous years.
WASHINGTON — The Internal Revenue Service is combating fraud by once again joining organizations around the world to highlight the third annual International Charity Fraud Awareness Week, Oct. 19-23.
International Charity Fraud Awareness Week (ICFAW) brings together everyone involved in the charity and not-for-profit sectors to raise awareness of and share good practices for tackling fraud and cybercrime. This award-winning campaign is led by a coalition of over 40 charities, regulators, law enforcement organizations, representative and umbrella bodies, and other not-for-profit stakeholders.
The IRS is partnering with ICFAW as part of its ongoing commitment to fight fraud against charities, businesses and individuals.
All charities are susceptible to fraud and can be targeted. Those providing services and supporting local communities may be especially vulnerable to fraudsters attempting to exploit the current pandemic or weather-related disasters. More than ever, charities need to be fraud aware and take steps to protect their money,
On July 15, 2020, the IRS issued interim guidance (IG) providing instructions to examiners on how to inform churches of the option to authorize the Service to consider church claims for refund or requests for abatement without following the otherwise applicable procedures of Internal Revenue Code (IRC) Section 7611. The IRS generally must follow several procedural steps under Section 7611 before it can commence an inquiry or examination of a church.
Section 7611 and the related regulations permit a church to waive the application of these procedures by submitting a written waiver. Absent a waiver, the IRS follows these procedures even if the church initiated the contact. For example, if the IRS is requesting information to verify and process a church’s claim for refund or request for abatement.
As described in the IG, the IRS developed a voluntary written waiver process to allow more expeditious processing of these claims
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