On November 15, the IRS released its Exempt Organization Newsletter, Issue Number 2013-22. Topics include the following:
- Looking for the 2012 Forms 990?
- Revenue procedure provides details about inflation-adjusted items for 2014
- 2014 PTIN renewal period underway for tax professionals
- Register for upcoming EO workshop
- IRS warns of pervasive telephone scam
1. Looking for the 2012 Forms 990?
Organizations requiring 2012 forms and instructions can find them on the Prior Year Forms & Pubs list or the webpage Current Form 990 Series – Forms and Instructions. As new 2013 forms roll out, they will replace 2012 forms on the Current Forms & Pubs list. Form 990-series returns for calendar year filers with an extension are due Nov. 15.
2. Revenue procedure provides details about inflation-adjusted items for 2014
Revenue Procedure 2013-35, which sets forth inflation-adjusted items for 2014, will be published in Internal Revenue Bulletin 2013-47 on Nov. 18. Items in the revenue procedure that apply to exempt organizations include:
- Insubstantial benefit limitations for contributions associated with charitable fund-raising campaigns
– Low cost article. For taxable years beginning in 2014, for purposes of defining the term “unrelated trade or business” for certain exempt organizations under § 513(h)(2), “low cost articles” are articles costing $10.40 or less.
- Reporting exception for certain exempt organizations with nondeductible lobbying expenditures
– For taxable years beginning in 2014, the annual per person, family, or entity dues limitation to qualify for the reporting exception under § 6033(e)(3) (and section 5.05 of Rev. Proc. 98-19, 1998-1 C.B. 547), regarding certain exempt organizations with nondeductible lobbying expenditures, is $110 or less.
3. 2014 PTIN renewal period underway for tax professionals
The IRS reminds the nation’s almost 690,000 federal tax return preparers to renew their Preparer Tax Identification Numbers (PTINs) for 2014. All current PTINs will expire on Dec. 31, 2013. See news release.
4. Register for upcoming EO workshop
Register for this workshop for small and medium-sized 501(c)(3) organizations:
- December 10 – New York, NY
Hosted by Baruch College
5. IRS warns of pervasive telephone scam
The IRS recently warned consumers about a sophisticated phone scam targeting taxpayers, including recent immigrants, throughout the country. See news release.