The Treasury Department and the IRS have released the 2014-2015 Priority Guidance Plan.  The plan contains 317 projects that are priorities for allocation of IRS resources for July 2014 through June 2015. 

A new item of note for exempt organizations is guidance under § 512 regarding methods of allocating expenses relating to dual use facilities for the purpose of computing unrelated business income.  This guidance was included in the 2014 Report of Recommendations submitted by the Advisory Committee on Tax-Exempt and Government Entities (ACT) on June 11, 2014.

Other projects relating to exempt organizations are:

  • Revenue Procedures updating grantor and contributor reliance criteria under §§ 170 and 509.
  • Revenue Procedure to update Revenue Procedure 2011-33 for EO Select Check.
  • Proposed regulations under § 501(c) relating to political campaign intervention.  Note, this project replaces the narrower project in the 2013-2014 Priority Guidance Plan to issue “guidance under § 501(c)(4) relating to measurement of an organization’s primary activity and whether it is operated primarily for the promotion of social welfare, including guidance relating to political campaign intervention,” for which proposed regulations were published on November 29, 2013.
  • Additional guidance on § 509(a)(3) supporting organizations.
  • Guidance under § 4941 regarding a private foundation’s investment in a partnership in which disqualified persons are also partners.
  • Final regulations under §§ 4942 and 4945 on reliance standards for making good faith determinations.  Proposed regulations on this issue were published on September 24, 2012.
  • Final regulations under § 4944 on program-related investments and other related guidance.  Proposed regulations on this issue were published on April 19, 2012.
  • Guidance regarding the excise taxes on donor advised funds and fund management.
  • Guidance under § 6033 relating to the reporting of contributions.
  • Final regulations under § 6104(c).  Proposed regulations were published on March 15, 2011.
  • Final regulations under § 7611 relating to church tax inquiries and examinations.  Proposed regulations were published on August 5, 2009.