EO Update July 26, 2010
|The filing relief program discussed on this page has expired. See Automatic Revocation for information about what happens if an exempt organization does not file annually for three consecutive years.|
Issue Number: 2010-18
Inside This Issue
- IRS Announces One-Time Filing Relief for Small Organizations that Failed to File for Three Consecutive Years
- Proposed Regulations Related to Fees for Preparer Tax
Identification Numbers Issued
- IRS to Co-Sponsor Fall Workshops for Small and Mid-Sized 501(c)(3) Organizations with Academic Institutions
- Affordable Care Act Webinar Rescheduled
1. IRS Announces One-Time Filing Relief for Small Organizations that Failed to File for Three Consecutive Years
The Internal Revenue Service today announced that small nonprofit organizations at risk of losing their tax-exempt status because they failed to file required returns for 2007, 2008, and 2009 can preserve their exempt status by filing returns by October 15, 2010.
Two types of relief are available for small exempt organizations -a filing extension for the smallest organizations required to file Form 990-N, Electronic Notice (e-Postcard), and a voluntary compliance program (VCP) for small organizations eligible to file Form 990-EZ, Short Form Return of Organization Exempt From Income Tax.
Find more information about the filing relief program on IRS.gov.
2. Proposed Regulations Related to Fees for Preparer Tax Identification Numbers Issued
The Internal Revenue Service has announced the release of proposed regulations that would establish a fee for individuals who apply for a preparer tax identification number (PTIN). The IRS is working to finalize the proposed regulations, which are the first of a series of steps planned to increase oversight of federal tax return preparation.
3. IRS to Co-Sponsor Fall Workshops for Small and Mid-Sized 501(c)(3) Organizations with Academic Institutions
Are you an exempt organization administrator, active volunteer or a student considering a career in the nonprofit sector? The IRS will offer its popular workshop for Small and Mid-Sized Organizations in cooperation with Lawrence Technological University in Southfield, MI (Detroit) on September 22 and 23, 2010.
Each one-day workshop, presented by experienced Exempt Organizations specialists, will explain what 501(c)(3) organizations must do to keep their tax-exempt status and comply with tax obligations.
Workshops will also be offered in Raleigh, NC (October 20) and Wilmington (October 21) in cooperation with a consortium of North Carolina academic institutions.
Find more information on our Calendar of Events.
4. Affordable Care Act Webinar Rescheduled
The free IRS webinar for tax professionals on the Affordable Care Act (referenced in Issue 2010-16 and originally scheduled for September 9) is to be rescheduled for October. Updated registration information will be available soon. Learn about the new tax provisions of the recent health care legislation and IRS implementation efforts at this free webinar.