EO Update August 5, 2008
In This Issue
Update on 2008 Draft Form 990 Instructions
Memorandum Issued on Examinations of Internet Political Activity
New Determinations Guidesheets on Donor Advised Funds Issued
On-Line Resources - Political Intervention by 501(c)(3) Organizations
Redesigned Form 990 - Filing Phase In
1. Update on 2008 Draft Form 990 Instructions
The IRS has completed its review of public comment on the draft 2008 Form 990 instructions and expects to release the revised instructions later this month. Learn about some of the major anticipated changes here.
2. Memorandum Issued on Examinations of Internet Political Activity
A memorandum from the Director, Exempt Organizations Examinations, describes how the IRS will analyze political campaign activity issues involving websites of section 501(c)(3) organizations.
3. New Determinations Guidesheets on Donor Advised Funds Issued
New guidelines and explanatory materials to be used in processing applications for exemption under IRC 501(c)(3) submitted by sponsoring organizations that maintain donor advised funds are available.
4. On-Line Resources - Political Intervention by 501(c)(3) Organizations
Do you know what constitutes political campaign intervention? Find on-line educational resources about the prohibition on political campaign intervention by 501(c)(3) organizations on the Charities and Nonprofits pages of IRS.gov.
5. Redesigned Form 990 - Filing Phase In
Are you unsure about which 990 series return your organization should file for 2008? To allow organizations time to adjust to the redesigned 990 series returns, the IRS will phase in the use of the new Form 990 by organizations based on their financial activity. See the charts on the Charities and Nonprofits Website to find out which form your organization should file during the phase-in period.
E-File Statistics for Year-to-Date ending July 27, 2008
7004 (for 1120-POL)