EO Update December 18, 2008
Issue Number: 2008-19
Inside This Issue:
- IRS Offers Tips for Year-End Donations
- Deadline Extended for Exempt Organization Retirement Plans
- 2009 Dates for Political Organization Filings
- IRS Announces Fast Track Settlement Program for TE/GE Taxpayers
- Reminder: Protect Personal Information
1. IRS Offers Tips for Year-End Donations
Individuals and businesses making contributions to charity should keep in mind several important tax law provisions that have taken effect in recent years. Review the on-line mini-course, Can I Deduct My Charitable Contribution?, for further information.
2. Deadline Extended for Exempt Organization Retirement Plans
The IRS announced that it has extended the deadline for plan sponsors to adopt or amend retirement plans covering employees of public schools, colleges and universities, and other tax exempt organizations to satisfy the requirements of the final section 403(b) regulations.
3. 2009 Dates for Political Organization Filings
Filing dates for political organizations for 2009 are now available on IRS.gov. During a non-election year, a political organization has the option of filing on either a monthly or semi-annual schedule. The organization must continue on the same filing schedule for the entire calendar year. Monthly filers report beginning with the first month of the year in which they accept a contribution or make an expenditure.
4. IRS Announces Fast Track Settlement Program for TE/GE Taxpayers
Announcement 2008-105 provides an opportunity for entities with issues under examination by the Tax Exempt and Government Entities Division (TE/GE) to use Fast Track Settlement (FTS) to expedite case resolution.
5. Reminder: Protect Personal Information
Because Forms 990, 990-PF and certain Forms 990-T by law must be made publicly available by the IRS and the filer, we remind you not to include any personal identifying information, such as social security numbers not required by the IRS, on these forms.