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EO Update March 2, 2007

Issue Number 2007-7


Inside This Issue

  1. EO Executive Compensation Project Report
  2. Public Comments Invited on Notice 2007-24
  3. Telephone Excise Tax Refund Deadline for Political Organizations
  4. e-File News


1. EO Executive Compensation Project Report
A report of findings of the Exempt Organizations Executive Compensation Compliance Project has been issued.
 

2.  Public Comments Invited on Notice 2007-24
 
Notice 2007-24 requests public comments on the draft forms that will be used to satisfy new reporting requirements regarding certain structured insurance contracts as well as to gather data for the study mandated by Congress.
 

 
3.  Telephone Excise Tax Refund Deadline for Political Organizations
 
A tax-exempt 527 political organization that files Form 1120-POL may request its telephone excise tax refund on that form.  Form 1120-POL is due on the 15th day of the 3rd month following the end of the political organization’s taxable year.  For organizations on a calendar year, Form 1120-POL is due on March 15th of the following year.

 
4.  e-File News
 
Exempt organizations are reminded that for tax years ending on or after December 31, 2006 the electronic filing requirement is expanded.
 
Visit the Modernized e-file for Charities and Nonprofits homepage  for up-to-date electronic filing information.
 
  e-File Statistics for Year-to-Date ending February 25, 2007

 Form

 Year-to-Date
 990  2,217
 990-EZ  315
 990-PF  111
 1120-POL  1
 8868  1,253
 7004 (for 1120-POL)  0
 Total Returns/Extensions  3,897

 

Page Last Reviewed or Updated: 03-Jun-2013