IRS Logo
Print - Click this link to Print this page

EO Update March 27, 2007

Issue Number 2007-8


Inside This Issue

  1. Relief Provisions for 527 Organizations and Request for Public Comments
  2. New Educational Tool: Telephone Excise Tax Refunds for Exempt Organizations
  3. Foreign Financial Accounts Reporting Requirements
  4. Reliance on BMF Information when Making Grants to Certain Supporting Organizations
  5. Issuance of Certain Determination Letters Suspended


1. Relief Provisions for 527 Organizations and Request for Public Comments

Revenue Procedure 2007-27 contains safe harbor provisions for 527 organizations that omit certain information from Form 8872. In addition, the IRS requests public comments about this topic in writing on or before July 2, 2007.


2. New Educational Tool: Telephone Excise Tax Refunds for Exempt Organizations

Publication 4589 depicts the telephone excise tax refund (TETR) process for exempt organizations. Organizations should feel free to use this publication in newsletters or on their websites to communicate the TETR process.


3. Foreign Financial Accounts Reporting Requirements

The IRS has issued Fact Sheet 2007-15, which reminds foreign account owners that they must report their accounts to the government.


4. Reliance on BMF Information when Making Grants to Certain Supporting Organizations

In determining whether a grantee is a public charity under IRC section 509(a)(1), (2),or (3), an article explains how a grantor can access the IRS Business Master File (BMF) or may use a third party to obtain BMF information for the grantor.


5.  Issuance of Certain Determination Letters Suspended

The IRS has suspended the issuance of certain determination letters under section 509(a)(3) of the Code. Information can be found on the Determinations Guidesheet webpage under “Supporting Organizations - Internal Revenue Code Section 509(a)(3).”


Page Last Reviewed or Updated: 04-Feb-2014