EO Update November 26, 2008
Issue Number: 2008-18
Inside This Issue
- EO Annual Report and FY 2009 Work Plan
- TE/GE Commissioner Discusses EO Governance Issues
- ABC's for New and Small Tax-Exempt Organizations
- Employment Taxes and the Trust Fund Recovery Penalty (TFRP)
- IR 2008-133: New Law Encourages Cash Donations for Midwest Disaster Relief
1. EO Annual Report and FY 2009 Work Plan
Exempt Organizations has issued an Annual Report and its Fiscal Year 2009 Work Plan. The document describes EO's accomplishments and the initiatives and projects to be undertaken in the coming year.
2. TE/GE Commissioner Discusses EO Governance Issues
Read the remarks of TE/GE Commissioner Steven T. Miller about the role of the IRS in encouraging good governance practices by exempt organizations. Miller spoke at the Western Conference on Tax Exempt Organizations, a program for exempt organization executives and tax professionals, jointly sponsored by IRS Exempt Organizations and Loyola Law School.
3. ABC's for New and Small Tax-Exempt Organizations
Find resources to help managers of new and small exempt organizations navigate tax issues in one convenient place on the IRS Charities and Nonprofits Web site.
4. Employment Taxes and the Trust Fund Recovery Penalty (TFRP)
If you are an officer, director, employee or a member of a board of trustees of a tax-exempt organization and are responsible for collecting or paying withheld income and employment taxes, you may be liable for the Trust Fund Recovery Penalty if you wilfully fail to collect or pay such taxes. Visit IRS.gov for additional information.
5. IR 2008-133: New Law Encourages Cash Donations for Midwest Disaster Relief
Learn how taxpayers who make qualifying cash contributions to a public charity for disaster relief efforts in the Midwest can benefit from a recently passed law that suspends the percentage-of-income limits on contributions.