- Register for IRS webinar: 501(c)(7) Social Clubs: What they need to qualify for and maintain tax-exempt status
- IRS Nationwide Tax Forums begin in July
- Tax relief for damage from severe storms, tornadoes, straight-line winds and flooding in Oklahoma
- Maintain eligibility to sponsor a 403(b) plan
- How does the Taxpayer Advocate Service work for you?
- Recent revocations
- Register for EO workshops
1. Register for IRS webinar: 501(c)(7) Social Clubs: What they need to qualify for and maintain tax-exempt status
2 p.m. to 3 p.m., Thursday, July 16
- Requirements a 501(c)(7) organization must meet
- Types of social club organizations
- How to obtain and maintain tax-exempt status
- Unique aspects that make 501(c)(7) organizations different from other tax-exempt organizations
Remember, if you hear something during the presentation that prompts a question, simply click on the “Ask a Question” link on your screen. Your questions will help us determine future topics as well as making sure we have updated information on IRS.gov.
2. IRS Nationwide Tax Forums begin in July
Employee Plans and Exempt Organizations will participate in the IRS Nationwide Tax Forums in five cities starting in July. The forums provide three days of seminars and workshops featuring speakers from both the IRS and tax practitioner organizations. In addition to getting the latest tax information, tax professionals can earn continuing education credits for attending.
This year, Employee Plans will present one seminar, “SEPs and SIMPLEs – Avoiding Pitfalls.” This seminar will discuss how to adopt and operate a SEP and SIMPLE IRA plan. These plans offer a simple way for businesses to help employees get started saving for retirement.
Employee Plans will discuss:
- SEP and SIMPLE saving options and limits
- Using the right compensation to calculate the correct contribution
- Determining when employees participate in the plan
- Employees of related employers
- Common errors we find on SEP and SIMPLE audits
- Steps to take each year to keep your plan headed down the right path
Exempt Organizations will once again present multiple sessions of its Exempt Organization Workshop on the Form 990, Return of Organization Exempt from Income Tax. This workshop will cover filing basics and will also discuss unique aspects of the form, such as how to report the activities that form the basis for an organization’s continued exemption. The session will also explore the consequences of the most common Form 990 errors and how to avoid them.
The dates and locations of this year’s forums are:
IRS Nationwide Tax Forums 2015 locations and dates:
- National Harbor, Maryland (DC) July 7-9
- Denver, Colorado July 28-30
- San Diego, California August 11-13
- Atlanta, Georgia August 25-27
- Orlando, Florida September 1-3
3. Tax relief for damage from severe storms, tornadoes, straight-line winds and flooding in Oklahoma
Victims of the severe storms, tornadoes, straight-line winds and flooding that took place beginning on May 5, 2015 in parts of Oklahoma may qualify for tax relief from the Internal Revenue Service.
4. Maintain eligibility to sponsor a 403(b) plan
Did you know only certain tax-exempt employers are eligible to sponsor an Internal Revenue Code Section 403(b) plan?
Read this web page to learn more about this topic.
5. How does the Taxpayer Advocate Service work for you?
The Taxpayer Advocate Service is an independent organization within the IRS. It protects taxpayers’ rights by helping ensure that all taxpayers receive fair treatment.
6. Recent revocations
For the latest list, go to Revocations of 501(c)(3) Determinations.
7. Register for EO workshops
Register for our upcoming workshops for small and medium-sized 501(c)(3) organizations. Remember to check this page periodically for new workshops being planned in a town near you.