The Internal Revenue Service (IRS) has moved aggressively to ensure that tax-exempt hospitals are complying with financial assistance, billing and
On August 5, 2011, in a Jones Day Commentary entitled "IRS TEB Publishes Final Report on Post-Issuance Compliance Survey," we described the results of a post-issuance compliance check program performed by the Tax Exempt Bonds ("TEB") function of the IRS Tax Exempt and Government Entities Division.
Revenue Procedure 2011-20 provides information to any individual who failed to meet the eligibility requirements of section 911(d)(1) of the Internal Revenue Code because adverse conditions in a foreign country precluded the individual from meeting those requirements for taxable year 2010.
In its February 11, 2011, edition of Employee Plan News, the Internal Revenue Service (the Service) reiterated its process for resolving situations where section 403(b) programs have been adopted or operated by an employer that is not a tax-exempt or educational organization permitted to sponsor that program.
Last week, the IRS and Treasury Department released their annual Priority Guidance Plan for the 2010-2011 federal fiscal year.
Small organizations at risk of losing their tax-exempt status for failure to file annual returns for 2007-2009 (including the Form 990-N or "e-Postcard," required for organizations whose annual gross receipts are normally $25,000 or less) can maintain their tax-exempt status by filing returns by October 15, 2010.
The IRS recently issued a private letter ruling (PLR 200902014) in which it approved a private foundation’s program to award grants to musical composers to assist them in the creation and performance of new works.
The final regulations recently issued under Section 403(b) contain many new components that employers offering 403(b) programs should consider.
Complete with talking cartoon characters, the IRS today released an Internet-based workshop entitled Stay Exempt Tax Basics for 501(c)(3)s.